GBP/EUR: Pound Resilient After May's Crushing Brexit Defeat
  • ECB’s M3 Money Supply September grew +10.4% YoY .
  • US Consumer Confidence up next .

EUR/USD hovers around 1.1800 IN the European session on Tuesday, moving in and out of gains & losses.

EUR/USD focuses on risk sentiment

EUR/USD struggles with investors favouring the safe haven US Dollar  on the back of pandemic fears and the absence of additional US fiscal stimulus.., EUR/USD looks set to tread water  as traders remain cautious ahead of the ECB monetary policy announcement  on Thursday. EUR/USD remains underpinned by the 55-day SMA just under 1.18. Beyond here the next relevant level  on the upside is at the monthly peaks around 1.1880 (October 21).

The Eurozone economic calendar saw the release of the ECB’s M3 Money Supply, which expanded 10.4% yoy in September and Private Sector Loans expanded at an annualized 3.1% during the same period.

US Conference Board will publish its Consumer Confidence gauge in addition to  Durable Goods Orders, the House Price Index, the Richmond Fed manufacturing index and the API’s weekly report on crude oil supplies.