EURUSD continues plunging. Overview for 24.11.2021

The major currency pair remains under pressure; investors are waiting for the news. 

EURUSD is being sold again on Wednesday. The current quote for the instrument is 1.1233.

Although the news relating to the approval of the global infrastructure plan in the US was already included in the prices, it remains a strong support factor for the “greenback”. 

Today’s trading session is going to be busy with the numbers, mostly from the US. 

The US is scheduled to publish its weekly Unemployment Claims report, which may show 259K after being 268K the week before. however, the labour market news is mostly positive and market players already got used to it. 

Another report to be published is the Durable Goods Orders for October, which may add 0.2% m/m after losing 0.3% m/m in September. The Core Durable Goods Orders may expand by 0.5% m/m. The indicator is extremely volatile, so it will be interesting to take a look at the component of the report. 

A little bit later, the US will publish another estimate of the country’s GDP for the third quarter of 2021, which may show 2.2% q/q against the previous estimate of 2.0% q/q. The stronger the reading, the better for the “greenback”.

Later in the evening, we’ll see the Personal Spending/Income reports, which are quite interesting. And finally, the American regulator is going to publish the FOMC Meeting Minutes, which may increase the market volatility.