EURUSD is recovering. Overview for 28.01.2019

The major currency pair is moving upwards on Monday; the market is reaching stability after the US Federal government was reopened.  

On Monday morning, EURUSD is trading upwards. The current quote for the instrument is 1.1410. 

The “hottest potato” from the USA is all about the Government Shutdown: last Friday, the US President Donald Trump announced that he would reopen the Federal government for three weeks, until February 15th. The negotiations over how to secure the American-Mexican border will continue and Trump is going to “ace it”. Otherwise, Trump threatened to declare a national emergency to bypass Congress.

That’s why it’s not quite clear whether the Government Shutdown in the USA is over or just put on hold. Obviously, the Congress and the White House may continue their confrontation involving security issues.

Later in the evening, the European Central Bank Governor Mario Draghi is scheduled to speak, but no one is expected any surprises from him. Everything that he wanted to announce about the Euro Area’s economy and monetary policy he had already said last week after the regulator’s meeting. 

After that, investors will switch their attention to the US FOMC meeting, which will start on Tuesday and take two days. They are expecting the regulator to announce details of selling the assets accumulated over several years of the QE program.