EURUSD is consolidating on Tuesday; investors are waiting for the news.
The major currency pair is barely moving on Tuesday morning in anticipation of the news. The current quote for the instrument is 1.2130.
The “greenback” managed to get much stronger yesterday amid increasing market volatility everywhere. Apart from this, the published statistics indicate problems with business activities in some European countries that are directly connected to lockdowns.
According to the European Central Bank Governor Christine Lagarde, the European economy may take more time to recover than expected earlier but it will recover. She believes that state authorities must continue stimulus programs, both fiscal and monetary. The European economy, as Lagarde sees, will be different after the pandemic and she thinks it will be good.
The ECB Governor is sure that the GDP reading for the fourth quarter of 2020 will be zero but in 2021 it will be positive as the region’s economy recovers.
Today’s economic calendar features the report of the Consumer Confidence from the Conference Board in the USA for January, which is expected to improve up to 88.9 points. The stronger the reading, the better for the USD.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.