An unexpected growth in Germany ZEW index, which marks the financial climate in the country, has given the euro a strong bullish momentum since the start of the European session.
Indeed, the rise of the single currency was primary seen in a session with little change in prices in the major pairs.
The pound is maintained uptrend in the short term, but it has to overcome 1.6105 to extend gains and not lose speed, a movement led by a trend-line that had been violated to the downside last week, and pivot on which the price is right now.
The confirmation that the Swiss National Bank will charge interest on money deposited in the local financial has impacted negatively on the franc. But now it is in line with the upward movement of the other European currencies, waiting for the macro data.
What is the data? In the U.S. trade gap in November amounted to 42 billion dollars. The same data will be released in Canada and could take off the lethargy of the local currency. The crossing with the dollar at 0.9910 left a gap that has not been covered since Monday.
FOMC interest rate announcement will take place on Wednesday is of great interest. In this regard, the agency is expected to increase its bond purchases, up to 85 billion dollars a month.
The material has been provided by Instaforex Company - instaforex.com
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