- The pair is up smalls around 1.1400 the figure on Thursday.
- The greenback remains under pressure and close to 96.50.
- ECB minutes next of relevance in Euroland later in the day.
EUR/USD continues its slow recovery following Tuesday’s deep pullback to the 1.1360/55 band, managing to advance for the second straight session and regain the 1.1400 neighbourhod.
EUR/USD looks to ECB, Brexit, Italy
The pair is up for yet another session around the 1.1400 handle and always vigilant on developments from Italy and the Brexit negotiations, all amidst thin trade conditions and scarce volatility due to the Thanksgiving Day holiday in the US markets.
In fact, the political situation in Italy keeps gyrating around the 2019 draft budget and the potential sanctions against the country from the European Commission, the so called ‘excessive deficit procedure’.
In the meantime, uncertainty around Brexit remains high while all eyes remain upon PM T.May’s visit to Brussels to discuss the deal later today.
Data wise in Euroland, the ECB will publish its minutes from the latest meeting and the European Commission will release the flash reading of the Consumer Confidence for the current month.
EUR/USD levels to watch
At the moment, the pair is gaining 0.18% at 1.1404 facing the next barrier at 1.1502 (high Nov.7) seconded by 1.1505 (55-day SMA) and finally 1.1553 (100-day SMA). On the flip side, a break below 1.1359 (low Nov.20) would target 1.1352 (10-day SMA) en route to 1.1214 (2018 low Nov.12).
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