The EUR/USD is consolidating its biggest daily losses since late October in a range of 15 pips. The market is negatively impacted by viral fears, disappointment over US stimulus measures, and concerns about a Fed rate hike. ECB policymakers are concerned about inflation and call for Fed Waller to raise interest rates. As of Monday morning’s early, European session, the EUR/USD price managed to hover above 1.1250 and rose 0.10% by afternoon. –Are you interested to learn more about Forex apps? Check our detailed guide- Meanwhile, the major currency pair welcomes the widespread weakness of the US dollar amid concerns over Omicron, Fed rate hikes, and skepticism toward Joe Biden’s BBB stimulus plan. The week begins with a wave of risk aversion weighing on US Treasury bond yields, which, in turn, weighs on the US Dollar Index (DXY). A weak calendar and mixed concerns about the battle between the ECB and the Fed limit the corrective pullback in the EUR/USD pair. The yield on 10-year US Treasuries fell three basis points (bps) to 1.37% on December 3rd, the third day in a row the yield dropped to a monthly low. Moreover, the Treasury Coupons are also increasing the DXY Index, which fell by 0.08% over the day to 96.65 at the time of publication. Get FREE Forex Signals Now! Moreover, the increase in Coronavirus cases in the UK and fears of new restrictions over the Christmas holidays add to the conversation about the death of a New Zealand resident who took the Pfizer vaccine. According to the New York Times, Dr. Anthony S. Fauci, a leading infectious disease expert, warned on Sunday that the unusually infectious Omicron coronavirus is sweeping the world and likely to cause another big outbreak in the United States especially among the unvaccinated. Senator Joe Manchin voted against President Biden’s Build Back Better (BBB) plan during the weekend. The news has dashed previous hopes of receiving incentives through the House in 2021. But Pelosi remains hopeful that a BBB deal can be reached in 2022. We can conclude that risk appetite favors EUR/USD sellers, despite intermittent upward movements triggered by DXY and Treasury yields. However, the lack of key data/events requires pairs traders to closely monitor the risk catalysts for clear direction. –Are you interested to learn more about STP brokers? Check our detailed guide- EUR/USD price technical analysis: Rallies barred by 1.1300 The EUR/USD price managed to climb above the 1.1250 area. However, the shrinkage in the volume suggests that the buyers have no follow-through momentum and may lose steam near the 1.1290 – 1.300 band as the 20-period SMA on the 4-hour chart and the round number resistance coincide. Hence, the pair fails to find acceptance above this level. Furthermore, the upper band of the broad range lies at 1.1380, which keeps reflecting back the rallies. Hence, the weight is still on the downside. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal EUR/USD Daily share Read Next OnlyCam Brings Web 3.0 To The Adult Content Industry Alan Draper 4 weeks The EUR/USD is consolidating its biggest daily losses since late October in a range of 15 pips. The market is negatively impacted by viral fears, disappointment over US stimulus measures, and concerns about a Fed rate hike. ECB policymakers are concerned about inflation and call for Fed Waller to raise interest rates. As of Monday morning's early, European session, the EUR/USD price managed to hover above 1.1250 and rose 0.10% by afternoon. -Are you interested to learn more about Forex apps? 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