Euro is trading in positive territory
On Thursday, November 25, by the end of the day, the euro closed slightly higher. The pair rose 0.09% to hit 1.1209. In the area of 1.1185 buyers found who were able to raise the price to 1.1229.
Market participants showed no noticeable reaction to the publication of the latest ECB minutes. Since the volumes were low due to the holiday in the USA (Thanksgiving Day), then by the close of the day the price rolled back to the level of 1.1205.
Scheduled statistics (GMT +3):
At 11:00 in Switzerland will be released GDP for Q3.
At 11:00 the head of the ECB K. Lagarde will deliver a speech
At 12:00 the eurozone will publish data on consumer lending for October.
At 14:00 UK will release CBI November sales report.
At 4:00 pm, MPC member Pilla will give a speech.
Current situation:
In Asia, the major currencies are showing mixed performance. The yen (+ 0.74%), the franc (+ 0.53%) and the euro (+ 0.16%) are traded in positive territory. The Australian dollar fell 0.78%, the Canadian and New Zealander - 0.60%, and oil - 2.92%.
There is a risk aversion in the markets. Investors were frightened by the news that the World Health Organization (WHO) has called a special meeting to discuss a new version of the virus to confirm its status. This is a version of the B virus, 1.1.529, which was found in South Africa. It has 32 mutations and may be resistant to vaccines.
The British and Israeli authorities have decided to impose travel restrictions in several African countries in connection with the discovery of a new strain of COVID-19. The authorities of other countries are silent.
Experts write that for now "there is no need to worry", because the unprecedented number of mutations can make the strain "unstable" and prevent it from spreading.
The economic calendar is blank for today. Of the speakers, one can single out the head of the ECB K. Lagarde. She has already said so much in two weeks that she can hardly surprise speculators.
Technical analysis:
Since the beginning of the week, the euro has depreciated against the dollar by 0.52%. At the time of this writing, the euro is worth 1.1229. The technical picture on the clock is favorable due to the rise in the euro / pound pair. And due to the fall of the AUD / USD and NZD / USD pairs, there are doubts that the EUR / USD pair will show impressive growth at the end of the week.
Resistance is the zone 1.1230-1.1238. Buyers can get support from the fall in the yield on 10-year bonds, which fell to 1.511 (-6.3%) since the opening. It is possible that gold ignores the news about the coronavirus and rises in price due to lower yields.
Summary: the euro closed slightly higher on Thursday. The price recovered amid a thin market due to the weekend in the US. At the auction in Asia, WHO convened a special meeting to discuss the new version of the virus. Euro ignored the message. May rise in price due to falling yields on 10-year bonds. In crosses, the euro is bought for almost all currencies, except for the franc and the yen. The situation is ambiguous. In the center of traders' attention is the speech of K. Lagarde.