EURUSD retreated a little bit. Overview for 25.12.2018

At Christmas, the major currency pair is trading quietly in small volumes. 

EURUSD is quietly celebrating Catholic Christmas and slowly falling on Tuesday afternoon. The current quote for the instrument is 1.1380.

The western world is celebrating Catholic Christmas today, that’s why a vast majority of investors are having a day off, and those who are still on the market will disappear by the end of the day. There were no statistics yesterday and there won’t be any numbers today: the economic calendar will be back to life only on Friday, when the USA are scheduled to publish several reports. 

The event worth mentioning is the Government Shutdown in the USA, which began at midnight EST on December 22nd with a House-passed continuing resolution to fund the United States Government awaiting a full floor vote in the Senate. The point of contention was the inclusion of $5.7 billion dollars in funding for a border wall. In order to prevent any financial failures, the White House shuts down the Government. However, there’s nothing too critical in the Shutdown. This year, it already happened twice, in January (69 hours) and February. This time it will be longer, mostly due to Christmas holidays. 

Will it cause any serious problems in the American economy? Unlikely. It’s just some kind of a “game”, which is always accompanied by dramatic fights between policymakers. There were 19 shutdowns in the US history and every one of them ended with good results.