On the one hand, today we can expect an increase in the euro quotes, inasmuch as the US Treasury and the Federal Reserve within the operations with treasury securities will increase the surplus of dollar liquidity in the financial system by $16 billion, which is a substantial intraday volume. Additional support may be provided by the statistics from Germany on the ZEW index, which may be better than the median forecasts against the background of the growth of vaccination of the population in the largest economy of the eurozone.

On the other hand, the euro has been historically highly correlated with gold, which has been hit by a sales after Friday’s Non-Farm statistics. Investors understand that in a few months the Fed will begin to cut economic stimulus, and they start to get rid of the precious metal.

Trading recommendation: flat 1.1700-1.1790.