EUR/USD advances past 1.21.
Risk appetite supports the common currency.
ECB’s monetary policy decision due later
EUR/USD advances to trade once more above1.2100 in the second half of the week.
EUR/USD looks to ECB
EUR/USD pares Wednesday’s losses and pushes over 1.2100 driven by greenback weakness.
The reflation trade is back with rising risk sentiment on hopes for Biden’s fiscal spending boost.
The ECB is expected to leave its monetary policy unchanged. ECB President Lagarde could voice concerns over the rise in covid cases in the region, the tighter lockdown restrictions and the impact on the growth prospects.The European Commission (EC) will publish its Consumer Confidence data for the current month.
In the US, Initial Claims will take centre stage.