Tomorrow’s PMI data are relatively positive and maybe looked through due to recent developments. No doubt any miss will be seized upon. We know the ECB is already dovish in its outlook. A continuation of the pandemic simply gives policymakers more reasons to go slow. The euro slipped 0.2% to $1.1275 at 1300 GMT, nearing a 16-month low touched on Friday when Austria announced the lockdown.
So EURUSD could be a short- and medium-term good sell call considering the current situation of a pandemic. A drop-down below the 1.1254 level could further give negative movement in pairs.
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