Events to watch out for today:
13.00 Moscow time. Eurozone: consumer price index for November.
18.00 Moscow time. USA: ISM Manufacturing Index for November.
EURUSD forecast for today 12/01/2020
A mixed background is being formed today. On the one hand, we can expect a decline in euro quotations against the background of the publication of any data on inflation in the eurozone for November. ECB leaders have noted several times in the past two weeks that inflation will remain in negative territory for several months. The day before we received data on Germany: deflation accelerated and reached 0.7% in annual terms. Low inflation contributes to an increase in asset repurchases by the ECB, which negatively affects the euro. On the other hand, the US Treasury and the Fed today will increase the volume of dollar liquidity in the financial system, which will have a negative impact on the value of the American currency.
EURUSD Investment Idea: Flat 1.1920 -1.2000