Fundamental view:
The Euro rallied during the week. The greenback was pressured by an optimistic mood related to Brexit talks and a US coronavirus relief package. The week went by and both issues remain unsolved, although investors are still waiting for positive news in the next couple of days.
In the past week, US Capacity Utilization Rate & Industrial Production monthly report created bearish atmosphere whereas US Core Retail Sales monthly report & Retail Sales monthly report on 16th December and Europe Belgian NBB Business Climate & US CB Leading Index monthly report on 18th December created a bullish atmosphere for the pair.
The major economic events deciding the movement of the pair in the next week are Euro GfK Consumer Climate, US GDP quarterly report, US CB Consumer Confidence Index at Dec 22, Euro GDP quarterly report at Dec 23, US Core Durable Goods Orders monthly report, and US Initial Jobless Claims at Dec 24.
EUR/USD Weekly outlook: