EURUSD: a pause at the market. Overview for 22.11.2022

eurusd:-a-pause-at-the-market-overview-for-2211.2022

On Tuesday, the market major hardly moves; the current quote is 1.0250.

Yesterday the news background for currencies was still, because main expectations were concentrated on commodities. The macroeconomic calendar is also empty, and the quotes have accounted for any expectations of the actions of the US Fed. Today important statistics will also be scarce.

On Tuesday afternoon, the Euro zone will publish the CCI for November, and the US – the PMI in Richmond production. Both reports are unlikely to impress investors.

And while market players are saving power, contemplating the background, the European gas market is worth taking a look at. Warm weather allowed for saving fuel, which eases inflation stress at least temporarily. Moreover, Europe has started to take care of making reserves of energy carriers for the future and is negotiating with alternative suppliers. If things go smooth, the EUR might get some support.

Source: Roboforex

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