EURUSD

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD NUDGES HIGHER AMID RISK-ON MARKET MOOD, EYES ON US ELECTION RESULTS

EURUSD.png

EURUSD trades near the 1.1740 neighbourhood in the early Asian trading hours as investors brace for the US Presidential election outcome. Markets wager the prospect of Joe Biden’s victory along with a divided Congress that will probably dim chances of higher taxes and strict financial regulations.
As of now, the currency pair is trading at 1.1740, representing gains of 0.17%
Coming to the previous session, EURUSD witnessed a two-way price action to finally conclude the session on a flat note near 1.17211, slightly up by 0.08%. The pair initially peaked at the 1.1770 level and then plunged to 1.1602 amid the heat of the ongoing US election battle that showcased an excruciatingly close race between the two candidates. Although later, the Euro gained ground versus greenback amid prevailing risk on sentiments and better than anticipated Eurozone data. As per reports, German services PMI stood at 49.5 against the forecast of 48.9, while for the Union the data improved to 46.9, better than market expectation of 46.2. Besides, the US ISM Services data showed disappointing results, thus benefiting the demand for the shared currency.
Moving ahead, investors await the EU Economic Forecasts, Retail Sales data, and the US Unemployment Claims report for short term trading impetus.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/232260671649640
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD TREADS WATER FOLLOWING THURSDAY’S MAGNIFICENT RALLY, EYES ON US ELECTION RESULT

EURUSD.png

EURUSD is treading waters in the Asian trading hours as investors await more results from the US presidential election for further cues. Investors expect Joe Biden’s victory, but the outcome is yet to be revealed, with votes still being counted in five battleground states.
As of this moment, the currency pair holds above its key level of 1.18 and is currently seen trading at the 1.1823 level, up by 0.02%.
Coming to the previous session, markets gyrated around the headlines ascertaining US election results, with Joe Biden closer to the white house, and President Trump announcing legal actions for vote fraud. Despite the ongoing turmoil, the riskier assets kept soaring, including EURUSD that hit an intraday high of 1.1859 level. Besides, the US published dismal reports wherein the Unemployment Claims stood at 751k, against the market expectation of 740k whereas, the Nonfarm Productivity data came at 4.9% versus the forecast of 3.6%, thus further weighing on the greenback. Consequently, the currency pair settled the day with substantial gains at the 1.1821 level, up by 0.85%.
For the day ahead, traders can monitor the Italian Retail Sales reports and French Trade Balance data for further trading impetus. Apart from Eurozone data, US will publish Average Hourly Earnings, Non-Farm Employment Change data, and Unemployment Rate report.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/232526814956359
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD ADVANCES AS INVESTORS CHEER CORONAVIRUS VACCINE DEVELOPMENT

EURUSD.png

EURUSD is resilient above the 1.18 handle amid a prevailing risk-on mood that is boding well with the single currency in the early Asian session. The risk sentiments are buoyed by hopes of a new experimental coronavirus vaccine developed by Pfizer and BioNTech that has shown promising results in the late-stage clinical trials. The vaccine claims to be 90% effective, thus supporting market sentiments and boosting optimism about the prospect of economic recovery.
As of now, the currency pair is bidding at the 1.1834 level, representing gains of 0.18%.
Coming to the previous session, EURUSD initially soared to the intraday high of 1.1920 level after Joe Biden clinched victory over the incumbent Donald Trump, which paves way for less confrontational policies along with additional stimulus expectations. Also, the development in the coronavirus vaccine helped improve the risk appetite of investors. However, later in the session, the currency pair plunged to the low of 1.1795 as the greenback bounced off its 10-weeks low. Subsequently, EURUSD settled the day in red at 1.1812 level, down by 0.51%.
Moving ahead, investors can take cues from the German ZEW Economic Sentiment data, the US JOLTS Job Opening data, and the speech of FOMC Member Kaplan slated for today.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/233633471512360
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD AFLOAT ABOVE 1.18 HANDLE; VACCINE HOPES RENDER SUPPORT

eurusd.png

EURUSD is trading at 1.1822 level, representing a gain of 0.08% amid continued optimism regarding the coronavirus vaccine developed by Pfizer and BioNTech that has shown promising results in the late-stage clinical trials, claiming to be 90% effective.
The optimism over the vaccine helped offset the fears of rapidly surging coronavirus cases. Having said that, the global coronavirus cases have surpassed the worrisome 50 million mark, with nearly 1.27 million fatalities.
Coming to the previous session, EURUSD witnessed a two-way price action to finally settle the day unchanged at the 1.1813 level. Initially, the currency pair peaked at the 1.1843 level owing to the development in the coronavirus vaccine that improved the risk appetite of investors. However, EURUSD quickly lost steam and dipped to the low of 1.1779 level following the release of gloomy Eurozone data. The ZEW Economic Sentiment data for the Union stood at 32.8, much worse than anticipated 43.3, while for Germany the data contracted to 39.0, versus the expected 45, thus exerting pressure on the single currency.
This Wednesday, there’s no macroeconomic releases from either sides

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/233901531485554
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
CORONAVIRUS FEARS WEIGH ON EURO, FOCUS ON FED CHAIR POWELL’S SPEECH

EURUSD.png

The surge in the coronavirus cases across the global at a robust pace and its implications on the economic recovery prospect is keeping riskier assets, including EURUSD on the losing side this Thursday. The US has reported a record 140k new contagion in a single day, while France and Italy registered over 35k and 32K new cases, respectively in the last 24 hours. Considering the latest surge, the US and Italy have ramped up their efforts to curb the spread of the virus by imposing new economic restrictions.
As of now, the currency pair is trading flat to negative at the 1.1769 level, down by 0.06%.
Coming to the previous session, the currency pair initially peaked at 1.1832 level amid continued optimism regarding the coronavirus vaccine developed by Pfizer and BioNTech that has shown promising results in the late-stage clinical trials.
However, the pair quickly reverted from the day’s high level and succumbed to selling pressure as the greenback gained ground across the board. Later, ECB President Christine Lagarde expressed concerns regarding the coronavirus pandemic and mentioned the likelihood of lower inflation that helped the pair to rebound from the day’s low of 1.1745 level. Despite that, the currency pair settled the day in red at 1.1777 level, down by 0.30%.
Moving ahead, market participants should closely follow the Europe Industrial Production report and speech of ECB President Lagarde slated for today. Later in the North American session, the focus will shift towards the US CPI data, Unemployment Claims data, and Speech of FED Chairman Powell.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/234159784793062
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD TREADS WATER ABOVE 1.18 HANDLE, EYES ON US PPI DATA

EURUSD.png

EURUSD is treading waters in the early Asian trading session as the surge in coronavirus cases overshadows vaccine hopes and raises questions on the prospect of the unfolding economics. Besides, FED Chairman Jerome Powell announced on Thursday that the economic outlook continues to remain uncertain regardless of upbeat vaccine news and emphasized the fact that the next few months can be challenging.
As of now, the currency pair is trading at the 1.1805 level, up by 0.03%.
Coming to the previous session, EURUSD eked out modest gains and concluded the session at 1.1802 level, up by 0.22%. The release of dismal US macroeconomic data wherein the US Core PPI data came at 0.0%, much worse than the consensus of 0.2%, weighed on the demand of the greenback. As a result of which, the pair touched the intra-day high of 1.1823 level. Later, the currency pair gave up minor gains as ECB President Christine Lagarde announced that the end of the Coronavirus is finally in the offing owing to the vaccine development but, it would be quite early to declare victory.
Moving ahead, investors can take cues from the Eurozone Flash Employment data and Trade Balance report. Later in the day, the US will publish PPI data and the Prelim Consumer Sentiment report.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/234436458098728
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD NEAR 1.185 NEIGHBORHOOD ON VACCINE OPTIMISM, EYES ON US RETAIL SALES DATA

eurusd.png

EURUSD ticks higher in the early Asian trading hours, mirroring optimistic cues from the global markets following a statement by Moderna declaring their experimental coronavirus vaccine to be 94.5% effective in the late-stage clinical trials. Besides, European Central Bank Chief Economist Philip Lane stated that an increase in the public sending to curb the pandemic-induced recession would not lead the debt towards unsustainable levels, thus boosting the market sentiments.
As of now, the currency pair is trading at the 1.1857 level, up by 0.07%.
Coming to the previous session, the currency pair witnessed a two-way price action and finally settled the day in the green at 1.1850 level, marginally up by 0.13%. Initially, the currency pair fell to the intra-day low of 1.1814 level on worries of a surge in coronavirus cases across Europe and the US that hampers the global economic recovery prospects. However, later in the session, the pair managed to gain ground following the release of the US NY Empire State Manufacturing Index, which came at 6.3, below the market expectations of 13.8 thereby, exerting downside pressure over the greenback.
Moving ahead, investors can take cues from the EU’s Construction Output, and US Retail Sales data slated for today.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/235553367987037
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD TICKS MILDLY LOWER AMID SURGE IN CASES OF CORONAVIRUS WORLDWIDE

EURUSD.png

The single currency ticks marginally lower versus its US counterpart on Wednesday as market participants remain cautious about the surging coronavirus cases across the globe and the mounting US-China trade tensions. American authorities are stepping up their efforts towards delisting Chinese companies from the US stock exchanges.
Besides, Federal Reserve Chairman Jerome Powell raised concerns that the American economy still has to go a long way before it entirely recovers from the damaging impact of the coronavirus pandemic.
As of this moment, the currency pair is trading at 1.1859 level, down by 0.02%
Coming to the previous session, EURUSD Initially edged higher and touched its intraday high of 1.1861 level after Moderna declared their experimental coronavirus vaccine to be 94.5% effective in late-stage clinical trials. In addition to that, the soft US retail sales data that came at 0.3%, versus the market expectation of 0.5%, weighed on the greenback. However, Risk-off sentiments resurfaced on worries of escalating coronavirus cases that could stifle the still recovering economics, thus shattering the euphoria from the late-stage vaccine breakthrough. Consequently, the currency pair retreated to end the day at 1.1861 level, with a gain of 0.10%.
Moving ahead, investors can take cues from the EU’s Core CPI data, US Building Permits report and Housing Starts data slated for today.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/235973577945016
 
  • Like
Reactions: iamsam

iamsam

Trader
Oct 12, 2020
24
11
9
29
Just as I was looking for a breakdown on some fundamental news on EURUSD.
This pops up in my "Whats New" - thanks for sharing Terry :)
 
  • Like
Reactions: Terry_8

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD: BEARS EMBOLDEN AMID MOUNTING CORONAVIRUS CASES ACROSS GLOBE

EURUSD.png

EURUSD extends its losing streak for the second consecutive day as investors turn cautious on escalating coronavirus cases across the world. Europe has shown a worrisome surge in the daily cases as France and Spain registered over 28k and 11k new COVID-19 cases in the last 24 hours. The surge in cases has prompted lockdown measures which could stifle the still recovering economics, thus shattering the euphoria from the vaccine breakthrough.
As of now, the currency pair is trading at 1.1845 level, down by 0.06%.
Coming to the previous session, EURUSD exhibited a lacklustre session and concluded the session in red at 1.1852, down by 0.08%. The currency pair faced downward pressure owing to rising coronavirus cases across the globe. Besides, the news that American authorities pushed their plan to delist Chinese companies from the US stock exchanges aggravated the US-China tensions, thus weighing on the risker assets including, EURUSD. On the data front, the US published Housing Starts that stood at 1.53M versus the anticipated 1.45M, while Building Permits data came in line with expectations that further supported the demand for the greenback.
Moving ahead, the investor can take cues from the US Philly Fed Manufacturing Index, CB Lending Index and, Unemployment Claims data slated for today.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/236708927871481
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD ADVANCES ON RENEWED STIMULUS HOPES AMID CORONAVIRUS PANDEMIC

EURUSD.png

EURUSD ekes out modest gains in the early Asian trading hours following renewed stimulus hopes that overshadows lockdown fears. The US Senate Majority Leader McConnel and Senator Schumer on Thursday decide to renewed coronavirus relief talks, emphasizing the need for additional stimulus. Besides, ECB President Christine Lagarde on Thursday called out several European members to end the budget deadlock and unlock aid measures for regions that are severely hit by the second wave of coronavirus pandemic. She emphasized the need for the next Generation EU package to be operational without any significant delay, thus boosting market sentiments.
As of this moment, the currency pair is trading at 1.1882 level, up by 0.09%.
Coming to the previous session, the currency pair initially dipped to its intraday low of 1.1816 level amid a risk-off mood led by a worrisome surge in coronavirus cases across Europe that prompted certain social distancing norms and lockdown measures. However, later in the session, the pair managed to recover from the day’s low following the release of US Unemployment Claims data that stood at 742k, much worse than the anticipated 707k. Subsequently, EURUSD settled the day in green at 1.1872 level, up by 0.17%.
Moving ahead, investors can take cues from the German PPI data, Consumer Confidence data along with the speech of ECB President Lagarde and FOMC Member Kaplan as it could lead to volatility in the pair

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/237448691130838
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD ADVANCES ABOVE 1.185 HANDLE AMID RISK-ON MARKET MOOD

EURUSD.png

EURUSD caught fresh bids in early Asian trading hours on Monday, although the 1.19 handle is turning out to be a crucial resistance for the pair. As of now, the currency pair is hovering at the 1.1872 level, up by 0.14%.
The hopes for an early availability of the coronavirus vaccine is keeping the market mood upbeat. A top US official from the vaccine development effort commented on Sunday that the vaccine would reach US healthcare workers and several others by mid-December. However, the anxieties over the impact of economically painful lockdowns limit gains.
Coming to the previous session, the currency pair dipped to an intra-day low of 1.1849 level as investors were spooked yet again by coronavirus woes after the total worldwide deaths reached the worrisome 1.3 million mark. On the data front, the EU published German PPI reports and Consumer Confidence data that came in line with expectation, though the pair didn’t react to the data. Subsequently, EURUSD settled the day in red at the 1.1855 level, down by 0.14%.
Moving ahead, investors can take cues from the German Manufacturing and Services PMI reports as it could lead to volatility in the pair. On the other hand, the US will publish Flash Services PMI and Manufacturing PMI data later in the day

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/239720710903636
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD GAINS ON BIDEN’S TRANSITION AND VACCINE DEVELOPMENT

EURUSD.png

EURUSD advances in the early Asian trading hours amid prevailing risk-on market mood encouraged by the news that Joe Biden officially commenced his transition process to the white house. He also elected Jane Yellen, a former US Federal Reserve Chair as the new Treasury Secretary. Besides, the investor sentiment got a boost after the coronavirus vaccine developed by AstraZeneca showed promising results in the late-stage clinical trials.
As of now, the currency pair is trading at the 1.1850 level, up by 0.09%.
Coming to the previous session, the currency pair initially surged to the high of 1.1905 level after a top US official from the vaccine development effort commented on Sunday that the vaccine would reach US healthcare workers and several others by mid-December. However, later in the session, the greenback gained ground following the release of upbeat US Services PMI that came at 57.7 versus the anticipated 55.8, the highest in nearly five years. Subsequently, EURUSD settled the day in red at 1.1839 level, down by 0.14%.
Moving ahead, investors can take cues from the German IFO Business Climate data as it could lead to volatility in the pair. On the other hand, the US will publish CB Consumer Confidence data and the Richmond Manufacturing Index report scheduled later in the day.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/240450237497350
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD STEPS HIGHER FOR THE SECOND CONSECUTIVE DAY AMID VACCINE OPTIMISM

EURUSD.png

EURUSD is trading in the positive territory for the second consecutive day on the back of optimism surrounding the news of the vaccine that is boosting the risk-on sentiments. Furthermore, the broad-based weakness in the U.S dollar is helping the single currency to hold above 1.19 handle.
As of now, EURUSD is trading at the 1.19044 level, up by 0.14%.
Talking about the previous session, the single currency edged higher to its intraday high of 1.18962 level after the risk sentiments were buoyed following Joe Biden officially commenced his transition process to the White House. While better than expected German Final GDP and German IFO Business Climate gave an additional boost to the pair. Furthermore, the dollar index lost its strength against most of its rival currencies after the release of dismal U.S macroeconomic data. The Richmond Manufacturing Index came at 15 versus the market expectation of 20 while CB Consumer Confidence came at 96.1 against the anticipated level of 97.7.
Consequently, the pair settled the day close to its intraday high at the 1.18899 level with a gain of 0.43%.
On the economic docket, investors must keep a close eye on the U.S Prelim GDP and Unemployment Claims data scheduled for today to determine the direction of the pair.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/241199680755739
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD RESILIENT ABOVE 1.19 HANDLE AMID VACCINE OPTIMISM AND RECOVERY HOPES

EURUSD.png

EURUSD extend gains for the third straight session owing to the market's euphoric mood led by vaccine breakthroughs and the prospect of quick economic recovery. Besides, the broad-based weakness in the greenback is adding to the bid tone surrounding the shared currency.
As of now, the currency pair is trading at the 1.1925 level, up by 0.12%.
Coming to the previous session, EURUSD surged to a 2-months high of 1.1929 level buoyed by the vaccine optimism that gave a boost to the risk appetite of investors. In addition to this, the dismal data released by the US exerted downward pressure on the greenback. The US Initial Jobless Claims came at 778k, worse than expected 732k, thus suggesting the negative impact of the second wave of coronavirus in the US that undermined the labor market recovery. Subsequently, EURUSD concluded the day in green at 1.1911 level, up by 0.19%.
Moving ahead, the investor can take cues from the M3 Money Supply data and ECB Monetary Policy Meetings Accounts slated for today.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/241914484017592
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD TRADES NEAR THE 1.192 NEIGHBORHOOD AS GREENBACK WILTS

eurusd.png

EURUSD ticks higher in the early Asian trading hours, courtesy of the broad-based weakness in the US dollar. The market mood stays buoyed in response to the upbeat Chinese data that reinforced expectations of a quick global economic recovery. However, the upside remains capped owing to the doubt raised over the British pharmaceutical giant AstraZeneca’s coronavirus vaccine trial results.
As of now, the currency pair is trading at 1.1923 level, representing gains of 0.09%.
Coming to the previous session, EURUSD witnessed a two-way price action to settle the day nearly unchanged at 1.1912 level. Initially, the currency pair surged to the intraday high of 1.1941 level amid the market's euphoric mood led by vaccine breakthroughs that gave a boost to the risk appetite of investors. Although, later in the session, the currency pair retreated from the day’s high due to dismal German GFK Consumer Climate data that came at -6.7 versus the expectation of -4.9. Besides, ECB reiterated that pandemic is likely to have a long-lasting impact on the Eurozone economy.
Moving forward, investors can take cues from the French Consumer Spending, Prelim CPI, and Prelim GDP data for short-term trading impetus

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/242669837275390
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD EXTEND GAINS TO NEAR THREE MONTH HIGH OF 1.1970 LEVEL AMID VACCINE OPTIMISM

EURUSD.png

The single currency trades a tad higher versus its US counterpart early Monday as investors continue to shun the safe-haven dollar due to ease in worries about the unfolding global economic recovery amid vaccine optimism. However, the recent ascent in the currency pair remains capped owing to the heightening US-China trade tensions as the Trump administration is planning to blacklist the producer of oil and gas CNOOC and Chinese chipmaker SMIC.
As of now, the currency pair is trading flat to positive at 1.1970 level, with mild gains of 0.07%.
Coming to the previous session, EURUSD peaked at 1.1963 level courtesy of the broad-based weakness in the US dollar and the upbeat Eurozone data that reinforced expectations of a quick global economic recovery. The French Consumer Spending data stood at 3.7% versus the anticipated 3.6% and, the French Prelim GDP came at 18.7%, much better than the forecast of 18.2%. Consequently, the currency pair concluded the session on a cheerful note at 1.1962 level, up by 0.42%.
Moving ahead, investors can take cues from the German Prelim CPI, Italian Prelim CPI, and Speech of ECB President Lagarde as it could lead to volatility in the pair. Later in the day, the focus will shift towards the US Chicago PMI and Pending Home Sales data.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/244810947061279
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD BIDS NEAR 1.195 HANDLE AMID VACCINE OPTIMISM, FOCUS ON POWELL’S TESTIMONY

EURUSD.png

EURUSD caught fresh bids in the early Asian trading hours on Tuesday as riskier assets gain higher ground on vaccine hopes, although 1.20 handle is turning out to be a crucial resistance for the pair. As of now, EURUSD is trading at 1.1957 level, representing a gain of 0.29%.
The continued optimism on coronavirus vaccine development that could probably hasten the economic recovery pace helped lift the markets. Besides, the Chinese data showcasing better than anticipated manufacturing expansion in November also supported the risk-on sentiments.
Coming to the previous session, EURUSD initially peaked at 1.200 level in response to the news that Moderna Inc. applied for the emergency use of its effective coronavirus vaccine in the US and EU. Although, later in the session, the pair quickly lost its stream amid profit booking at its intraday high level.
On the data front, Germany published dismal CPI data that stood at -0.8% against the expectation of -0.7%. On the US side, there were mixed reports as the pending home sales and the US Chicago PMI missed the mark, while the November Dallas Fed Manufacturing Business Index came at 12, better than 7.4 anticipated. Subsequently, the currency pair settled the day at 1.1923 level, down by 0.33%.
Moving ahead, investors can take cues from the German and French Final Manufacturing PMI for short term trading impetus. Later in the day, the focus will shift towards the US ISM Manufacturing PMI and FED Chairman Powell’s testimony.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/245519753657065
 

Terry_8

Trader
Mar 23, 2020
169
7
19
50
EURUSD RALLIES SIGNIFICANTLY TO ITS HIGHEST LEVEL SINCE MAY 2018

EURUSD.png

The risk-fueled rally prompted EURUSD to peak the 2-1/2-year highs in the early Asian trading hours as the continued optimism over the vaccine and the US fiscal stimulus talks is boding well for the single currency. As of now, the pair the currency pair is trading at 1.2075 level, up by 0.07%.
The funds keep on flowing out of the safe-haven dollar as the prospects of the US stimulus brightened after Treasury Secretary Stephen Mnuchin and Federal Reserve Chairman Jerome Powell hinted at the need for additional fiscal support.
Coming to the previous session, EURUSD soared above the 1.20 handle, its highest level marked in 2020, as the prevailing risk-on sentiments and the depressing US data gave a beating to the greenback. The news that US bipartisan lawmakers came up with a $908 billion covid-19 relief package lifted the market mood, thus benefiting the riskier asset EURUSD. Besides, dismal US data added to pressure on the greenback as the ISM Manufacturing PMI came at 57.5, worse than the anticipated 57.9, while the employment sub-component plummeted from 53.2 in October to 48.4. Subsequently, the pair settled at 1.2067 level, with a whopping gain of 1.21%.
Moving ahead, the investor can take cues from the Eurozone PPI and Unemployment Rate data for short-term trading impetus. Later in the day, the focus will shift towards the Fed Chair Powell’s testimony

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/246302730245434