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EUR/USD Doesn’t Move Far on Tuesday, Waits for ECB Meeting

December 8, 2020 by

EUR/USD was about flat amid the relatively quiet trading session. Things should be more eventful on Thursday when the European Central Bank will make its monetary policy decision. As for US economic data, there were just a couple of reports released on the first two days of the week.

Nonfarm productivity rose by 4.6% in Q3 2020, whereas economists were expecting the same 4.9% rate of growth as in Q2. (Event A on the chart.)

Yesterday, a report on consumer credit was released, showing an increase of $7.2 billion in October, which was far smaller than a reading of $17.6 billion predicted by analysts. Furthermore, the September increase got a negative revision from $16.2 billion to $15.1 billion. (Not shown on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

2 Responses to “EUR/USD Doesn’t Move Far on Tuesday, Waits for ECB Meeting”

  1. Cacey Taylor

    Do you envision the EUR/USD Dropping below even further than the two year low?


    Andriy Moraru Reply:

    Its last 2-year low has been reached in March. I don’t think it is going to go down even close to that level any time soon.


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