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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 73152, member: 32345"] [CENTER][b]Date : 17th November 2014 EURUSD PUSHING LOWER IN THE EUROPEAN SESSION. ECB PRESIDENT MARIO DRAGHI SPEAKS LATER TODAY.[/b] EURUSD rose on Friday and closed at 1.2523. The Gross Domestic Product in the Eurozone rose 0.2 percent in the 3rd quarter of 2014. The ECB Executive Board Member Benoit Coeure stated that fiscal policy should be used together with the monetary policies to spur the growth in the Euro are, cause the monetary policies alone cannot do the job. Data from the United States showed that the Retail Sales in the largest economy in the world rose more than expected on a monthly basis registering a 0.3 percent rise in October. The Preliminary University of Michigan Consumer Sentiment recorded its highest reading since July 2007 coming at 89.4 in November. The Business Inventories in the United States also recorded a gain of 0.3 percent in line with the market expectations in September. On Friday the President of the United States Federal Reserve in St Louis, James Bullard hinted that the FOMC would raise the key interest rates in 2015 and it would depend on macroeconomic data. In the mean time EURUSD continues to print new session lows in the European session. Investors are looking forward for the speech of the President of the European Central Bank Mario Draghi on Monetary Policy before the Committee on Economic and Monetary Affairsin Brussels. Support for the EURUSD is seen at 1.2404 and resistance is seen at 1.2568. [img]https://blog.hotforex.com/wp-content/uploads/2014/11/EURUSD-17-November-2014-0.jpg[/img] Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.[/CENTER] [/QUOTE]
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