EURUSD is slowly growing. Overview for 24.12.2018

The major currency pair is back to rising; investors have a very calm week ahead. 

EURUSD is trading upwards at the beginning of the last December week. The current quote for the instrument is 1.1410.

There will be calm trading sessions today and tomorrow: on Monday, it’s Christmas Eve, and it’s Catholic Christmas the next day. Western countries are having one of their favorite holidays, that’s’ why no significant activity is expected for many currency pairs. 
In addition to that, there will be few events in the economic calendar this week. EURUSD may be influenced by some of them only on Friday, when the USA are scheduled to report on several macroeconomic indicators.

However, in late December the Euro managed to find some fundamental support after all. Last week, the European Commission agreed on the Italian budget for 2019 after a lot of discussions and fights from both parties. However, it was due to detailed overview of all budgetary aspects that helped the parties to reach the agreement. Italian democrats were so displeased with the revised agreement that they already called it a “joke”. Nevertheless, the Senate of the Republic approved the budget, which later went to the Chamber of Deputies. The document has to be approved by all authorities before December 31st, so that it cloud be in effect starting January 1st 2019.