Forex market reviews

Market sessions

10:17 (GMT+3)

EURUSD: market lull sets in due to Thanksgiving holiday in US

On Wednesday the 21st of November, trading on the euro closed slightly up. The stock indices and oil prices correction supported the euro during the day. Market participants even ignored the European Commission's decision to turn down Italy's latest budget plan. This decision increased the likelihood of sanctions being imposed on the country. Due to the fact that this process could take several months, the market has reacted poorly to this news.

Market sessions

Matthew Anthony

10:35 (GMT+3)

EURUSD: euro bulls await European Commission's decision on Italy's draft budget

On Tuesday the 20th of November, trading on EURUSD closed down. Three bearish movements of 50 pips each were observed during the day. The overall fall amounted to about 1% (from 1.1472 to 1.1359). The fall was facilitated by the overall strengthening of the US currency in response to investors opting to flee from risk and uncertainly around the situation surrounding Italy, which doesn't want to make changes to its budget.