The EUR/USD pair moved slightly yesterday and traded within narrow levels as several major economies were still on holidays, where with the absence of the world’s largest economy and critical data from major economies, low volume dominated the movement of the pair yesterday.
Today, we expect volumes to start to increase and volatility is expected to return gradually, especially with the heavy load of fundamentals awaited this week. However, eyes will be focused today on the unemployment report fromGermanyand the ISM manufacturing from theUnited States.
The pair’s movement today depends on the awaited critical fundamentals and also on any comments or actions from European lawmakers.
Germanywill start the session at 08:55 GMT with the unemployment report of December, where the seasonally adjusted unemployment rate is expected unchanged at 6.9%, while unemployment is expected to decline by 10 thousands compared with the previous decline of 20 thousands.
TheUnited Stateswill join the session at 15:00 GMT with the Construction Spending Monthly Index for November, which could have expanded by 0.5% from 0.8%.
TheUnited Stateswill also release the ISM Manufacturing for December, with expectations the index could have expanded to 53.2 from 52.7.
At 19:00 GMT the Federal Reserve will provide markets with the Minutes of the FOMC last meeting.
Originally posted here
