The UK and the EU reached an agreement in principle on Brexit.
EU’s Q3 GDP was downwardly revised to 12.5%
EUR/USD lacks bullish momentum yet remains above 1.21.
EUR/USD consolidated ahead of the US open around 1.2120. The US Dollar has ticked a few pips higher versus major rivals
Brexit dominates. The mood has improved after the UK British Cabinet Minister Michael Gove announced an agreement in principle with the EU.
The Euro is under some pressure following Q3 GDP as it was downwardly revised to 12.5% in the final reading. Germany’s ZEW survey, which reveals Economic Sentiment in the country contracted more in December, to -66.5 from -64.3. Meanwhile EU, the sentiment improved to 54.4 from 32.8, well ahead of expectations.
The US published November NIFB Business Optimism Index, which printed at 101.4 down from 104 in November. Q3 Nonfarm Productivity, which rose by a weaker than forecast 4.6%.