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Fundamental Analysis
EURUSD
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[QUOTE="Terry_8, post: 185319, member: 65834"] EURUSD SURGES AHEAD OF EUROPEAN CENTRAL BANK’S MONETARY POLICY DECISION The single currency surges versus its US counterpart in the early Asian 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 is equipped to loosen policy if necessary. As of now, the currency pair is trading at 1.1821 level, representing a gain of 0.16%. Coming onto the previous session, the currency pair initially succumbed to selling pressure, bottoming to the 1.1752 level for the day. The market mood soured owing to the delay in Astra-Zeneca’s coronavirus vaccine and mounting US-China trade tensions which weighed on the single currency. However, in the American session, the pair was quick to rebound from the day’s low following news that ECB policymakers seemed optimistic about the region’s pace of economic recovery which will potentially reduce the requirement of additional stimulus this year. Consequently, the currency pair settled the day at 1.1802 level, up by 0.24%. For the day ahead, investors should closely follow the ECB’s Monetary Policy Decision and the speech of ECB President Lagarde slated for today. On the other hand, the US will publish PPI data and the Unemployment Claims report SOURCE FXVIEW FB: [URL="http://www.facebook.com/fxviewdotcom/posts/216513459891028"]www.facebook.com/fxviewdotcom/posts/216513459891028[/URL] [/QUOTE]
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