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Fundamental Analysis
EURUSD
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[QUOTE="Terry_8, post: 187491, member: 65834"] EURUSD TREADS WATER FOLLOWING THURSDAY’S MAGNIFICENT RALLY, EYES ON US ELECTION RESULT [ATTACH type="full"]17202[/ATTACH] 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: [URL="http://www.facebook.com/fxviewdotcom/posts/232526814956359"]www.facebook.com/fxviewdotcom/posts/232526814956359[/URL] [/QUOTE]
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