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Fundamental Analysis
EURUSD
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[QUOTE="Terry_8, post: 185632, member: 65834"] EURUSD TREADS WATER AROUND 1.185 HANDLE, EYES ON US DATA [ATTACH type="full"]16988[/ATTACH] The single currency is treading waters versus its US counterpart in the early Asian trading hours on Friday. Investors prefer to remain on the sidelines owing to the worries about economic recovery after WHO warned ‘Europe’ for a serious surge in coronavirus cases. As per reports, the cases in more than half of Europe have doubled in the past two weeks. Considering this, the European government is imposing strict measures and is also weighing up more lockdowns to halt the spread of the second wave of coronavirus. As of now, the currency pair is trading at 1.1850, up by 0.02%. Coming onto the previous session, EURUSD initially dwindled to the intra-day low of 1.1737 level in response to the broad-based strength in the US dollar after FED decided to keep interest rates unchanged with no additional stimulus. However, the pair was quick to rebound from the day’s low following the release of dismal US statistics. The Unemployment claims stood at 860k versus the forecast of 825k whereas Building permits reports came at 1.47M, much worse than anticipated 1.51M thus, exerting pressure on the greenback. Consequently, the currency pair settled the day in positive territory at 1.1840, up by 0.28%. Moving ahead market participants should closely follow US CB Leading Index and Prelim UoM Consumer Sentiments data scheduled to be released later in the day. SOURCE FXVIEW FB: [URL="http://www.facebook.com/fxviewdotcom/posts/218714736337567"]www.facebook.com/fxviewdotcom/posts/218714736337567[/URL] [/QUOTE]
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