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Fundamental Analysis
EURUSD
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[QUOTE="Terry_8, post: 187730, member: 65834"] EURUSD TREADS WATER ABOVE 1.18 HANDLE, EYES ON US PPI DATA [ATTACH type="full"]17239[/ATTACH] EURUSD is treading waters in the early Asian trading session as the surge in coronavirus cases overshadows vaccine hopes and raises questions on the prospect of the unfolding economics. Besides, FED Chairman Jerome Powell announced on Thursday that the economic outlook continues to remain uncertain regardless of upbeat vaccine news and emphasized the fact that the next few months can be challenging. As of now, the currency pair is trading at the 1.1805 level, up by 0.03%. Coming to the previous session, EURUSD eked out modest gains and concluded the session at 1.1802 level, up by 0.22%. The release of dismal US macroeconomic data wherein the US Core PPI data came at 0.0%, much worse than the consensus of 0.2%, weighed on the demand of the greenback. As a result of which, the pair touched the intra-day high of 1.1823 level. Later, the currency pair gave up minor gains as ECB President Christine Lagarde announced that the end of the Coronavirus is finally in the offing owing to the vaccine development but, it would be quite early to declare victory. Moving ahead, investors can take cues from the Eurozone Flash Employment data and Trade Balance report. Later in the day, the US will publish PPI data and the Prelim Consumer Sentiment report. SOURCE FXVIEW FB: [URL="http://www.facebook.com/fxviewdotcom/posts/234436458098728"]www.facebook.com/fxviewdotcom/posts/234436458098728[/URL] [/QUOTE]
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