The euro is losing ground relative to five of the seven major currencies, which continues the October trend for the single European currency, but in November.
This week, the euro will not have support in the form of strong data for Germany or the Eurozone, but there is hope for a potential growth catalyst. This is progress in the negotiations on the Italian budget (but more attention will still be paid to the US and Brexit midterm elections), which will help euro to reverse the trend and start to regain positions against major currencies.
In addition, indirectly weakened the position of the euro and ambiguous policy of German Chancellor Angela Merkel, who in October-November managed to agree on mutually exclusive issues with Russian President Vladimir Putin, head of the White House Donald Trump and Ukraine's leader Petro Poroshenko.
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