EURUSD – Reduced growth rates of the European money supply

30.12.2021

Important events are not expected today.

The European Central Bank announced new data on changes in the money supply in the European zone. The growth rate is 7.3%. This figure was lower only in February 2020, that is, the level before the pandemic. In the United States, this figure is still far from pre-pandemic levels, at 13.1% at the latest from the Federal Reserve.

As you know, the lower the rate of growth of the money supply, the more favorable it is for the currency. This indicates the advisability of buying a currency pair from the nearest support levels.

Recommendations: Purchases 1.1310 / 1.1285 with TP 1.1350.