GBP/EUR: Pound Rallies Ahead Of BoE Announcement
  • EUR/USD trades just shy of 1.19
  • US Retail Sales increased less than forecast in October.
  • EBC’s Christine Lagarde up next.

EUR/USD trades higher again on Tuesday, advancing to weekly high around 1.1885/90 before easing slightly shortly after.

EUR/USD looks to data and the ECB

EUR/USD rises to around1.1900 although struggles to push beyond here for now. A break through this level could open the door to the monthly high at 1.1920 (November 9).

The US Dollar remains weak amid vaccine optimism and despite of surging covid cases..

US Retail Sales increased 0.3% MoM in October, weaker than forecast..

Looking ahead, US Industrial/Manufacturing Production, Capacity Utilization, Business Inventories, TIC Flows and the NAHB Index are up next.

 FOMC’s R.Bostic, M.Daly and J.Williams will also speak later on Tuesday.