The EUR/USD currency pair chart today does not show a pretty picture of the currency pair; the euro went below 1.13400 versus the dollar today.

When we look at the EUR/USD pair’s historical image, we can see that it has been in a very bad situation since mid-November, with its value steadily deteriorating day after day.

When it comes to today’s drop, it’s due to a drop in November retail sales, which will be released on January 3, 2021, with a lowered status of -0.5 percent, compared to the previous month’s index of -0.3 percent.

Retail sales are gauging the pace of the Australian economy since they show the retail sector’s success in the short and medium-term.

This fall will be quickly dealt with the January 01, 2021 unemployment rate announcement, that according to economists might release a reduction reading of -15,000 in December.

The Bundesagentur für Arbeit’s Unemployment Change is a seasonal measure of the absolute change in the number of jobless individuals in Germany. A rise in this statistic hurts consumer spending since fewer people are working, which slows the country’s economic growth.

Conclusion

Considering the EUR/USD’s current value, swapping the pair for a longer-term position is likely to be a wise decision. Individuals who seek to earn by opening up short positions can, without a doubt, try their luck.