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EUR/USD Falls for Fifth Day of Week

November 8, 2019 by

EUR/USD extended its decline today, falling every single day of the week. The dollar continued to get support from signs that the United States and China are nearing to a trade deal, while a strong rally in Treasury yields added further support to the greenback.

Michigan Sentiment Index rose slightly to 95.7 in November from 95.5 in October according to the preliminary estimate. Analysts were expecting a somewhat bigger increase to 96.0. (Event A on the chart.)

Wholesale inventories fell by 0.4% in September. Analysts had predicted the same 0.3% rate of decline as in the previous month. (Event A on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

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