The EUR rose against the USD during yesterday’s trading session, breaking through the resistance ceiling of 1.5 to open at 1.1549 this morning. Yesterday’s data releases of the German Trade Balance, Italian Monthly Unemployment Rate and Eurozone Unemployment rate all came out at almost or above the forecasted figures which is helpful for the currency.
Just before midnight, the European Central Bank will release it’s minutes meeting from their December meeting. The ECB sets the monetary policy for the Eurozone, and the minutes will provide in-depth insights into the economic conditions that influenced their decision on where to set interest rates. There are also a few other Eurozone data releases coming out this afternoon in the French Industrial Production and Italian Retail Sales data which are expected to have a minor impact on the EUR.