EUR/USD is off the lows, looking to regain 1.22 amid risk-off mood. New covid strain-led lockdowns spooks markets, boosts the dollar. The US fiscal stimulus deal lifts gold, offers support to the major. EUR/USD looks to regain the 1.2200 level ahead of the European open, attempting a bounce from daily lows of 1.2179. The renewed uptick in the major can be attributed to a pause in the US dollar’s rally across its main peers, as markets rethink the implications of the strengthening of the lockdowns globally while a much-awaited fiscal stimulus deal comes into an agreement in the US. A new covid strain detected in the UK and the resultant stricter lockdowns and global travel curbs announced boosted the haven demand for the greenback. The US dollar index opened the week with about a 20-pips bullish gap and extended its recovery from multi-year troughs into the third straight day, now adding 0.45% to 90.40. Despite the US dollar strength, the downside in the spot appears cushioned, partly in response to a rally in gold amid an agreement on the US fiscal stimulus deal. The US lawmakers reached a $900 billion covid relief aid deal late Sunday, with the voting scheduled on Monday. Additionally, the EUR/GBP cross driven strength also keeps the euro buyers hopeful. The slide in GBP/USD, due to the Brexit stalemate and the UK’s new mutated virus-led concerns, has driven EUR/GBP back beyond 0.9100 levels. Looking ahead, the risk sentiment and USD dynamics will continue to remain the main market drivers amid incoming virus updates and a lack of relevant macro news on both sides of the Atlantic. EUR/USD technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next RBA set to upgrade 2021 economic forecasts – MNI FX Street 1 year EUR/USD is off the lows, looking to regain 1.22 amid risk-off mood. New covid strain-led lockdowns spooks markets, boosts the dollar. The US fiscal stimulus deal lifts gold, offers support to the major. EUR/USD looks to regain the 1.2200 level ahead of the European open, attempting a bounce from daily lows of 1.2179. The renewed uptick in the major can be attributed to a pause in the US dollar’s rally across its main peers, as markets rethink the implications of the strengthening of the lockdowns globally while a much-awaited fiscal stimulus deal comes into an agreement in the US. A… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
