EURUSD

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD ADVANCES ABOVE 1.175 HANDLE AMID RENEWED STIMULUS HOPES

EURUSD.png

EURUSD is resilient above the 1.175 handle amid prevailing risk-on sentiments that are boding well with the single currency ahead of the European session. The gains in EURUSD is driven by the expectations of additional fiscal relief package after President Trump appears to reverse his earlier decision of halting stimulus talks and further offers supports to aid airlines and several other stimulus measures.
As of now, the currency pair is trading at 1.1774, up by 0.12%.
Coming on to the previous session, the single currency eked out modest gains, reaching an intra-day high of 1.1781 level as the Dollar gave up his gains against high-yielding currencies after President Trump gave his approval to support several aid measures. Later in the session, the FOMC minutes released showed that policymakers were holding a conflicting view on economic recovery although it failed to trigger any action in Euro’s price behaviour. On the data front, the Eurozone released mixed reports wherein German Industrial production data fell unexpectedly and the Italian Retail Sales data stood at 8.2%, much better than the forecast of 3.8%.
Subsequently, the pair settled the day with a gain of 0.23% at 1.1760.
Moving ahead, investors can take cues from the German Trade Balance data and ECB Monetary Policy Meeting Accounts. Later in the day, the focus will shift towards the US Unemployment Claims report for some meaningful trading impetus.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/224564095752631
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD TRADES ON FRONT FOOT AS STIMULUS TALKS LEAVES MARKETS GUESSING

EURUSD.png

EURUSD flashes green in the early Asian trading hours, courtesy to the broad-based weakness in the perceived safe-haven dollar. After calling off stimulus negotiations this week, US President Donald Trump restarted talks on a relief package with the congress. House Speaker Nancy Pelosi opposed the idea of stand-alone bills but acknowledged that discussions were still ongoing, which lifted the market sentiments, thus boosting riskier assets including, EURUSD.
As of now, the pair is trading at 1.1775 level, up by 0.15%.
Coming on to the previous session, the currency pair initially surged to the intraday high of 1.178 level amid expectations of additional fiscal relief package after President Trump offered supports to aid airlines and several other stimulus measures. Later in the session, the pair trimmed its gains after the release of ECB’s latest Monetary Policy Meeting Accounts indicating that policymakers seemed worried about the economic recovery and were open for a dovish interpretation. Consequently, the pair ended the day on a flat note at 1.1759 level, slightly up by 0.02%
Moving ahead, investors can take cues from the French and Italian Industrial Production reports slated for today. Later, the focus will shift towards the US Final Wholesale Inventories data

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/224876529054721
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD GIVES GAP DOWN OPENING AS CORONAVIRUS FEARS WEIGH ON EURO

EURUSD.png

EURUSD gave a gap down opening in the early Asian trading hours on Monday amid surging coronavirus cases across Europe that shatters the prospect of a ‘V-shaped’ recovery. Spain and France are the worst-hit nations with a total of 890K and 734K coronavirus cases and more than 32K fatalities each. Considering the surge in the number of Covid-19 cases, Europe is implementing strict social distancing norms and further lockdown measures.
As of now, the pair is trading at 1.1820 level, down by 0.07% after having partially recovered from the gap down opening of 1.1808.
Coming on to the previous session, EURUSD surged to the high of 1.1830, courtesy to the broad-based weakness in the safe-haven dollar. The hopes of addition US fiscal stimulus after US President Donald Trump restarted talks on a relief package with the Congress boosted the risk appetite of investors, thus benefiting EURUSD. House Speaker Nancy Pelosi did oppose the idea of stand-alone bills but acknowledged that discussions were still ongoing which kept the market is a risk-on mood. Subsequently, the pair settled the day at 1.1829, up by 0.61%.
Moving ahead, the calendar is muted for today on account of US Bank holiday and, the only crucial event is the speech of ECB’s President Christine Lagarde.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/225681698974204
 
  • 👍
Reactions: iamsam

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD DOWN AS J&J PAUSES TRIAL OF ITS POTENTIAL COVID-19 VACCINE

EURUSD.png

The single currency is trading in the negative area for the second consecutive day as investors' risk appetite takes a hit after pharma giant Johnson and Johnson paused its trial for the potential COVID-19 vaccine after one of the patients fell ill. The news comes at a time when the number of cases in Europe is already rising with France and Spain being the worst hit nations in the block. In addition to this, the bounce in the U.S dollar is adding pressure on the pair.
As of now, EURUSD is trading at 1.17983, down by 0.11%
Talking about the previous session, the pair dipped to its intraday low of 1.17862 level on the back of rising coronavirus cases in Europe which led to Europe implementing strict social distancing norms and further lockdown measures. Furthermore, the dismal German WPI figures that came at 0% as compared to the expectations of 0.2% dragged the pair lower. However, EURUSD managed to recover some of its losses and settled the day at 1.1810 level.
On the data front, the investors will keep a close eye on the German Final CPI, German ZEW Economic Sentiment data. Later in the day, the focus will shift to U.S CPI and NFIB Small Business Index data

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/225941995614841
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD TRADES CAUTIOUSLY AMID STALLED US STIMULUS TALKS

EURUSD.png

EURUSD trades cautiously near the 1.1743 level in the early Asian hours on Wednesday. The lack of clarity amid US lawmakers to plan a fresh fiscal US stimulus, the pause in the COVID-19 vaccine trial, and the risk aversion signs in the markets is weighing on the investor's sentiments, thus keeping gains in EURUSD limited.
Besides, the worrisome surge in the coronavirus cases across Europe is adding to the dour mood. In the last 24 hours, Spain and France registered nearly 7,118 and 12,993 new coronavirus cases respectively.
Coming onto the previous session, the currency pair dipped to the intra-day low of 1.1730 level as Investor's risk appetite took a hit following news that pharma giant Johnson and Johnson paused its trial for the potential COVID-19 vaccine after one of the patients fell ill. Also, the lack of progress in the Brexit deal and the surging coronavirus cases added to the dismal mood. On the data front, the Economic Sentiment survey for Germany and the Union fell unexpectedly, thus further exerting pressure on the single currency. Subsequently, the pair conclude the session at 1.1743, down by 0.57%.
Moving ahead, investors will take cues from the Eurozone Industrial Production data. Later in the day, the focus will shift towards the US Core PPI data along with the Speech of FOMC Members Quarles and Clarida

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/226237072252000
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD TAD HIGHER AHEAD OF EU ECONOMIC SUMMIT

EURUSD.png

The single currency edges mildly higher versus its US counterpart as investors look forward to the EU Economic summit starting today. The EU leaders set to meet in Brussels will pressure Britain for certain concessions in the troubled Brexit negotiations. However, the gains remain capped owing to the surging coronavirus cases that prompted lockdown measures in several parts of Europe.
As of this moment, the currency pair is trading flat to positive at 1.1753, up by 0.07%.
Coming onto the previous session, initially, the US dollar stalled against the euro that led the pair trade as high as 1.1771 level. However, later in the session, the stimulus and pandemic concerns bolstered the demand for safe-haven greenback. US Treasury Secretary Steven Mnuchin stated that despite the ongoing talks, the two parties remain ‘far apart’ on reaching the new coronavirus relief package. As a result of which, EURUSD settled the day at 1.1754, mildly up by 0.02%.
For the day ahead, investors can take cues from the French CPI data and the Speech of ECB President Lagarde. On the other hand, the US will publish the Philly Fed Manufacturing Index and Unemployment Claims data

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/226532948889079
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD TREADS WATER AMID UNCERTAINTY OVER STIMULUS AND VIRUS JITTERS

EURUSD.png

EURUSD is treading waters in the early Asian hours on Friday as market participants remain cautious over the prolonged US fiscal stimulus and surging coronavirus cases across some parts of Europe and America. The virus jitters stoked concerns over the prospect of a quick global economic recovery thus, dampening sentiments. Worldwide, approximately 39 million people have been infected by the coronavirus with over 1 million fatalities.
As of this moment, the pair is trading flat at 1.1707.
Coming on to the previous session, the US dollar remained a better bid against its rivals throughout the session. The currency pair dipped to its two-week low of 1.1688 level amid a risk-off mood led by the surge in 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 898k, much worse than the expectation of 810k. Even then, EURUSD settled the day in red at 1.1707, down by 0.32%.
Moving ahead, investors can take cues from the Eurozone CPI reports and Trade Balance data as it could lead to volatility in the pair. On the other hand, the US will publish Retail Sales data, Industrial Production data and, Consumer Sentiment reports later in the day

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/226772618865112
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD TAD LOWER AMID SURGING CORONAVIRUS CASES ACROSS EUROPE

EURUSD.png

The single currency edges mildly lower versus its US counterparts on Monday amid surging coronavirus cases across Europe that shatters the prospect of a ‘V-shaped’ recovery. Daily Coronavirus cases have surpassed the worrisome 150,000 mark, with countries such as Italy, France, and Germany reporting a record surge in Cases. Considering the rise in cases, Europe has also tightened social distancing norms and stepped up lockdown measures. However, the downside remains limited owing to the renewed optimism over the US fiscal stimulus and the news that Pfizer can produce coronavirus vaccine by the year-end.
As of now, the currency pair is trading at 1.1706, down by 0.05%.
Coming onto the previous session, the currency pair initially touched the intraday day high of 1.1746 level but soon gave up the majority of the gains amid the worsening coronavirus situation in Europe which has prompted lockdown measures. In addition to this, the US published Retail Sales data and Core Retail Sales data which came much better than the forecast at 1.9% and 1.5% respectively, thus supporting the demand for the greenback. Consequently, the pair settled the day at 1.1713, up by 0.05%.
Moving ahead, investors can take cues from the the speech of ECB President Lagarde and FED Chairman Powell Retail Sales slated for today.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/227620218780352
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD NUDGES MILDLY HIGHER, MARKET PARTICIPANTS AWAIT GERMAN PPI DATA

EURUSD.png

EURUSD extends its gains in early Asian hours on Tuesday, although the 1.18 handle is turning out to be a crucial resistance for the pair. The currency pair has managed to stay afloat despite the risk-off sentiments prevailing in the market on concerns whether US lawmakers will be able to sketch out a coronavirus relief package.
As of now, EURUSD is trading flat to positive at 1.1776 level, up by 0.07%.
Meanwhile, investor sentiments remain dampened owing to the record surge in the daily coronavirus cases across Europe, thus limiting gains in the pair. The lockdown measures and strict social distancing norms adopted by the Union are shattering the hopes of a quick economic recovery.
Coming on to the previous session, the pair touched an intraday high of 1.1793 level in response to the positive risk sentiments bolstered the speculations over the new US fiscal stimulus package. Although, Later in the session, the House speaker Nancy Pelosi gave a 48-hour deadline to reach a deal which raised uncertainty over the Stimulus package. Subsequently, the pair reverted from the day’s high and settled the day at 1.1769 level, up by 0.48%.
Moving ahead, investors can take cues from the German PPI data, Current Account reports that can induce volatility in the pair. Later in the day, the US will publish the Building permits data and Housing Starts reports.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/227888068753567
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD RALLIES SIGNIFICANTLY TO ITS ONE MONTH HIGH LEVEL AS DOLLAR WILTS

EURUSD.png

EURUSD continues to remain on the front foot in the early Asian trading hours on Wednesday, courtesy to the broad-based weakness in the US dollar. Investor sentiments improved following renewed hopes of a US fiscal stimulus package after Trump and Democrats showcased progress in the negotiations.
Besides, the news that Moderna’s coronavirus vaccine might be available for emergency purposes in December provided it gives satisfactory results in November interim trials further aided market sentiments.
As of now, the currency pair is trading at 1.1845 level, up by 0.20%.
Coming on to the previous session, EURUSD peaked at the intra-day high of 1.1840 level as the dollar weakened across the board with investors cautious stance over the new US fiscal stimulus package. In addition to this, data published by the Eurozone indicated economic progress as the Current Account data stood at 19.9B, better than market expectations of 17.2B, and the German PPI reports improved to 0.4% against the forecast of 0.1%. Consequently, the currency pair settled the day at 1.1821, up by 0.44%.
For the day ahead, investors can take cues from the Speech of FOMC Members Mester and Brainard for short term trading impetus

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/228175045391536
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD FLASHES RED AMID UNCERTAINTY OVER THE US FISCAL STIMULUS

EURUSD.png

The modest pick-up in demand for the perceived safe-haven greenback in response to the uncertainty over US fiscal stimulus is exerting downward pressure on EURUSD on Thursday. As of this moment, the currency pair is trading at 1.1847, down by 0.09%.
Investor sentiments dampened amid Worries that the Trump administration and Democrats might not be able to chalk out an agreement on the stimulus package before November 3rd presidential election. Besides, the surge in the coronavirus cases across Europe that prompted lockdown measures is weighing on the major.
Coming on to the previous session, EURUSD rallied to 1.1880 level owing to the broad-based weakness in the US dollar that dipped to its 7- weeks low. Trump’s approval to accept a significantly large coronavirus relief package boosted the market sentiments, thus favouring the riskier currencies including, EURUSD. Subsequently, the pair settled the day at 1.1856, up by 0.30%.
For the day ahead, traders can monitor the US Unemployment Claims data, CB Leading Index and Existing Home Sales report for further trading impetus.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/228467428695631
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD TUMBLES AMID CORONAVIRUS JITTERS, FOCUS ON GERMAN PMI DATA

EURUSD.png

EURUSD ticks lower versus its US counterpart for the second straight session on Friday in response to the second wave of coronavirus that shatters the prospect of a quick economic recovery. European countries are witnessing a resurgence in coronavirus cases, especially Spain and France, registering nearly 20,986 and 41,622 new cases in the past 24 hours. Considering the latest rise in infection, Europe has implemented strict social distancing norms and further lockdown measures.
As of now, the pair is trading at 1.1799 level, down by 0.15%.
Coming on to the previous session, the dollar staged a rebound against the euro as the prospect of US fiscal stimulus remains uncertain amid the ongoing pandemic that keeps on intensifying. On the data front, the US Unemployment Claims report came at 787k, much better than the anticipated 860k, while Eurozone Consumer Confidence data fell unexpectedly, thus weighing on the single currency. Subsequently, the currency pair settled the day at 1.1817, down by 0.33%
Moving ahead, traders can monitor the French and German Flash Manufacturing PMI data for some short-term trading impetus. Later in the day, US will publish Flash Manufacturing and Services PMI

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/228741752001532
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD WILTS AMID RECORD SURGE IN CORONAVIRUS CASES ACROSS EUROPE

EURUSD.png

Euro is trading frail versus its US counterpart in the early Asian hours on Monday as the second wave of coronavirus intensifies across Europe that threatens the global recovery outlook. France registered a record surge in daily new infections that stood at 52,010, while Italy reported 21,273 new coronavirus cases in the last 24 hours. Considering the latest acceleration in cases, Spain and Italy have implemented partial lockdowns to contain the spread of the virus, thus exerting downward pressure on the single currency.
As of now, the currency pair is trading at 1.1836 level, representing a loss of 0.18%.
Coming on to the previous session, EURUSD remained buoyant owing to the broad-based USD weakness amid cautiousness ahead of the US presidential elections. The mixed data released from the Eurozone economy also rendered support to the currency pair. The flash services PMI for union and Germany plunged for October. However, the Manufacturing PMI came surprisingly upbeat for Germany and the Union as it stood at 58 and 54.4, respectively. Subsequently, the pair settled the day 1.1857 level, up by 0.34%.
Today’s economic docket includes the German IFO Business Climate report and US Home Sales data

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/229560008586373
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD RESILIENT ABOVE 1.182 HANDLE, FOCUS ON US CONSUMER CONFIDENCE DATA

EURUSD.png

EURUSD is trading near the 1.182 neighbourhood in the early Asian hours on Tuesday amid broad-based weakness in the greenback despite the risk-off tone prevailing in the equity markets. The overall market sentiments continue to remain subdued amid concerns of slow economic recovery induced by the coronavirus pandemic.
As of this moment, the currency pair is trading at 1.1828 level, up by 0.17%.
Coming on to the previous session, EURUSD dipped to the intra-day low of 1.1803 level as the second wave of coronavirus intensified across Europe. Considering the surge in infections, Spain and Italy implemented partial lockdowns to contain the spread of the virus that shatters the prospect of quick economic recovery. Besides, the lack of progress on the US fiscal stimulus package after Larry Kudlow stated that talks have stalled added to the dismal mood.
On the macroeconomic front, Germany’s IFO Business Climate data for October contracted to 92.7, missing the market expectation of 93.2, thus further weighing on the single currency. Consequently, the currency pair concluded the session at 1.1808 level, down by 0.41%.
Today’s economic docket highlights the Spanish Unemployment Rate data, US Durable Goods Orders report, and CB Consumer Confidence data that could significantly impact the pair’s performance.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/229827328559641
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
SINGLE CURRENCY DWINDLES AS EUROZONE CONSIDERS LOCKDOWN MEASURES

EURUSD.png

EURUSD faces pull of gravity in the early Asian trading hours on Wednesday amid looming concerns regarding the Eurozone economy and the implications of the second wave of coronavirus. Considering the surge in infections, Eurozone’s two largest economies - France and Germany are planning to re-impose lockdown restrictions to curb the spread of the virus. These economically painful lockdown measures shatter the prospect of a ‘v-shaped’ recovery, thus exerting downward pressure on the single currency.
As of this moment, the currency pair is trading at 1.1778 level, down by 0.14%.
Coming on to the previous session, initially, the pair surged to the high of 1.1838 level as the dollar retreated across the board amid uncertainty concerning Nov. 3 Presidential vote. However, later in the session, the currency pair gave up its gains as the pace of covid-19 cases accelerated in Europe, with France and Spain registering 33k and 18k new cases respectively which weighed on the investor’s sentiments. Besides, the US published upbeat Durable Goods Orders data that stood at 0.8% versus the anticipated 0.3%, thus benefiting the greenback. Consequently, the pair settled the day at 1.1795, down by 0.11%.
Today’s economic docket highlights the German Import Prices data, US Goods Trade Balance data and, Prelim Wholesale Inventories report that could significantly impact the pair’s performance.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/230095251866182
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD TAD HIGHER AHEAD OF EUROPEAN CENTRAL BANK’S MONETARY POLICY DECISION

EURUSD.png

The single currency ticks mildly in the early Asian trading hours on Thursday as investors await the European Central Bank’s policy decision slated for today. There’s a conviction in the market that the central bank will keep its policy tools unchanged, but will likely pave way for additional stimulus in December as new restrictions imposed to curb the spread of coronavirus fuel recession fears.
As of now, the currency pair is trading at 1.1754 level, representing a gain of 0.07%.
Coming onto the previous session, the currency pair succumbed to selling pressure, bottoming to the 1.1717 level for the day. The market mood soured owing amid the implications of the second wave of coronavirus as Eurozone’s two largest economies - France and Germany re-imposed partial lockdown restrictions to contain the virus. In addition to this, US Goods Trade Balance data and Prelim Wholesale Inventories report came better than the forecast, thus benefiting greenback. Later in the day, the currency pair managed to recover from the day’s low but settled the day in red at 1.1746 level, down by 0.42%.
Moving ahead, investors should closely follow the ECB’s Monetary Policy Decision, followed by the ECB press conference scheduled for today. On the other hand, the US will publish Pending Home Sales data, Unemployment Claims report, and Advance GDP data.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/230364391839268
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD NUDGES HIGHER AFTER SLIDING TO ITS ONE-MONTH LOW LEVEL, EYES ON GERMAN GDP

EURUSD.png

EURUSD caught some fresh bid in the early Asian trading hours on Friday, although the 1.17 handle is turning out to be a crucial resistance for the pair. As of now, the currency pair is trading flat to positive at 1.1678 level, up by 0.08%.
The weakness in the perceived safe-haven dollar is helping EURUSD recover but, the gains largely remain capped as there is little incentive to bid on the euro amid rapidly surging coronavirus cases that continue to take its toll on the Eurozone economy.
In the previous session, the currency pair succumbed to selling pressure following the release of the European Central Bank’s monetary policy decision. As widely anticipated, ECB kept the interest rates unchanged but hinted towards additional easing in December as new restrictions imposed to curb the spread of coronavirus fuel recession fears. In addition to that, the US published upbeat statistics wherein the Advance GDP stood at 33.1% versus the forecast of 32% and, the Underemployment Claims came at 751K, better than the market expectation of 773K, thus exerting downward pressure on the major. Consequently, EURUSD settled the day in red at 1.1672 level, down by 0.62%.
Moving forward, investors can take cues from the German Retail Sales data and Prelim GDP numbers. Apart from that, the US will publish Core PCE Price Index data, Personal spending data and, Consumer Sentiments reports later in the day

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/230667275142313
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD SLUMPS SIGNIFICANTLY TO ITS 5- WEEK LOW AMID CORONAVIRUS CRISIS

EURUSD.png

EURUSD is trading on the back foot for the sixth day in a row as the coronavirus scare is keeping the markets in the risk-off mood. Europe, as well as the US, scramble to contain the spread of novel coronavirus that has raised worries about the unfolding global economic recovery. Besides, investors remain cautious due to the uncertainty surrounding the US Presidential elections.
As of this moment, the pair is trading at 1.1635 level, down by 0.08%.
Coming onto the previous session, EURUSD dipped to the intra-day low of 1.1640 level amid risk aversion in the market that benefited the greenback across the board. Moreover, the concerns of the second wave of coronavirus in Europe weighed on the single currency. On the data front, the EU and Germany’s GDP figures came better than forecast for Q3 at 12.7% and 8.25%, respectively. Although, the upbeat data was overshadowed by ECB President Lagarde’s Comments as she anticipated a setback in the fourth quarter. Subsequently, the pair settled the day at 1.1645 level, down by 0.24%.
Moving ahead, investors can take cues from the Eurozone and German Manufacturing PMI data for short term trading impetus. Later in the day, the focus will shift towards the US ISM Manufacturing PMI data and Construction Spending report.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/231465031729204
 

Terry_8

Trader
Mar 23, 2020
252
9
19
53
EURUSD DWINDLES AMID CAUTIOUS TRADE, INVESTORS AWAIT US ELECTION RESULT

EURUSD.png

EURUSD dwindles in the Asian trading hours ahead of the results from US elections that depict an excruciatingly close race between the two candidates - Joe Biden and Donald Trump in some of the battleground states.
As of now, the currency pair is trading at the 1.1660 level, representing a loss of 0.42%.
Coming to the previous session, EURUSD surged to the high of 1.1740 level on account of the upbeat risk sentiments that drove investors away from the greenback as investors awaited the US presidential election results amid hopes for additional fiscal stimulus. Besides, the rally in the currency pair was further aided by the short covering as EURUSD picked up pace after six-day losing streak. Subsequently, the currency pair settled the day near the day’s high at the 1.1711 level, up by 0.60%.
Moving ahead, investors can take cues from the Eurozone and German Final Services PMI for some trading impetus. Later in the day, the US will publish ISM Services PMI and Trade Balance data.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/231997198342654