The Euro is being dragged down. Overview for 12.11.2018
The major currency pair continues updating the lows; investors are looking towards “safe haven” assets.
EURUSD is falling and reaching new lows on Monday. The current quote for the instrument is 1.1254, the lowest since June 28th 2017.
The key reasons for this remain the same. The first problem, which is the Italian budget, is not being solved, thus making investors feel very nervous. The European Commission is waiting for Italy to decide on the matter, while Italy is trying to find a perfect solution, which is nearly impossible. Another thing is the Brexit. Last weekend, The Times published an article, which hinted at resignation of four ministers from the British government at once. Policymakers in the United Kingdom don’t agree to the Prime Minister’s Brexit strategy and are ready to leave their offices.
In addition to that, the Euro continues falling because of momentum: investors have been selling the pair for the fourth consecutive week.
Today is a holiday in the USA, that’s why the economic calendar won’t provide a lot of new data and investors will have to use previous drivers. The current market situation is obviously against the Euro, so the pair may test new lows.
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