- Eurozone CPI declined -0.3% MoM in November.
- Fed’s Powell, ISM Manufacturing data in focus
EUR/USD picks up towards the psychological barrier at 1.20.
EUR/USD focused on Fed, data
EUR/USD flirts again with 1.20 extending a move higher from early November.
Risk flows weighed on the US Dollar amid rising optimism of a strong economic recovery over the medium-term owing to a viable vaccine being rolled out in the upcoming months. Expectations of extra US stimulus in the near term is also pulling on the greenback, German jobless rate edged lower in November while preliminary inflation numbers as measured by the core CPI declined -0.3%.
In the US, Fed’s Powell will testify before the Senate. ISM Manufacturing will be under the spotlight in addition to speeches by FOMC’s Brainard, Daly and Evans.