Lockdowns in EU.. here we go again
15 November 2021
As Europe struggles with another wave of COVID, more and more countries are leaning toward more measures and fresh lockdowns.
Austria said Sunday that it is placing millions of people not fully vaccinated against the coronavirus in lockdown starting Monday. The Netherlands also announced a partial lockdown last week, while the German federal government and leaders of 16 states will meet next week to discuss tightening measures.
From other news, ECB president Lagarde is due to speak today, possibly influencing the EURUSD pair. Additionally, traders will pay attention to the New York Empire State Manufacturing Index for November, expected to improve slightly to 21.60 from 19.80 in October.
More data will be released Tuesday, including the UK labor market update and the Eurozone's
GDP for the third quarter, along with employment change.
Furthermore, EU bourses jumped to new all-time highs in the previous week, and the immediate outlook still appears bullish, while US stock indices remain close to their all-time highs, with the trend also looking bullish.
Elsewhere, silver is trying to breach above the 200-day moving average at 25.35 USD, so far unsuccessfully. As a result, both silver and gold have been lower so far Monday, correcting their last week's gains.
In the Forex market, the USD remains near its cycle highs, as the EURUSD pair trades depressed below the 1.15 threshold, but commodity-linked currencies, such as the AUD or NZD, are staging a relief rally from the recent sell-off.