EUR/USD extends its gains to its highest level in two weeks

Mohammed Abdelkhalik
December 29, 2020

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EUR/USD extended its gains during trading today, Tuesday, in the European market, and recorded the third consecutive daily rise, reaching its highest level in two weeks. These expanded gains come from investors ’focus on buying high-risk currencies, as markets are optimistic about the trade agreement Between Britain and the European Union, in addition to the signing of US President “Donald Trump” on the second fiscal stimulus package to support the economy.

EUR/USD added 0.4% gains to trade at $ 1.2258, the highest in two weeks, from today’s opening session at $ 1.2213.

EUR/USD ended yesterday’s trading, achieving gains by about 0.2% for the second day in a row, supported by strong sentiment, with the approval of Trump’s signing of a $ 2.3 trillion fiscal stimulus bill, with the aim of restoring unemployment benefits and avoiding the US government shutdown.


President Trump wrote on Twitter on Sunday that he had signed the second $ 2.3 trillion fiscal stimulus bill, which includes a 1.4 trillion government stimulus package and nearly $ 900 billion coronavirus relief package, and the House of Representatives approved yesterday to increase the stimulus checks from $ 600 to $ 600. $ 2000, and the Senate should sign it, too.

EUR/USD continues rising after the US dollar decline

The dollar index trade at 90.125 points in light of trading due to the holiday, The US dollar witnessed a decline against many currencies during trading on Tuesday, to trade near its lowest level in two and a half years, this decline comes with weak demand to buy dollars and improved risk among investors.


Author Mohammed Abdelkhalik

Professional Trader and Analyst, economist in Financial and Forex market since 2004.holds an MBA from the American University in Egypt. Mohammed works as an economic writer and technical & fundamental analyst for many international Forex and financial trading companies in both English and Arabic on a daily basis.