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Fundamental Analysis
EURUSD
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[QUOTE="Terry_8, post: 185801, member: 65834"] EURUSD DWINDLES AS CORONAVIRUS CONCERNS WEIGH ON MARKETS [ATTACH type="full"]16998[/ATTACH] EURUSD is trading on the back foot for the fourth 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, the heightened US-China tensions weighed on investor’s sentiments after US President Trump blamed China for unleashing the COVID-19 on the world at the United Nations General Assembly. As of this moment, the pair is trading at 1.1682, down by 0.21%. Coming onto the previous session, EURUSD succumbed to selling pressure on concerns of the second wave of coronavirus that shatters the prospect of a quick economic recovery. As a result of which, the pair dipped below the 1.17 handle despite better than anticipated Eurozone data. In the US session, the Fed Chair testified that the US economy remains resilient, although further progress will depend on how they control the virus situation. Subsequently, the pair settled the day at 1.1707, down by 0.53%. 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 Flash Manufacturing PMI, Services PMI, and Fed Chair Powell’s testimony SOURCE FXVIEW FB: [URL="http://www.facebook.com/fxviewdotcom/posts/220112826197758"]www.facebook.com/fxviewdotcom/posts/220112826197758[/URL] [/QUOTE]
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