The euro exchange rate against the dollar forex forecast for EURUSD today 08/12/2019
Euro is trying to demonstrate growth on the background of positive dynamics in the credit market, where the yield spread in Germany / US government bonds demonstrates the growth, but there are constraints. Firstly, investors are taking profits on the "Long" in gold, which is negative for the euro, as the two instruments have historically correlated. The yellow metal last week tested the six-year maximum, but was unable to consolidate above the psychological level of $ 1,500 / ounce. Secondly, Italy flaring up a new political crisis. The leader of the ruling party Mattio Salvini called for early elections. Shares of Italian banks fell in the moment of 4-5%, sharply increased insurance against default on Italian bonds. Against this background, today I do not expect the trend movement in the currency pair.
EURUSD recommendation: flat 1.1160 -1.1240