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Message: [QUOTE="Terry_8, post: 188089, member: 65834"] EURUSD GAINS ON BIDEN’S TRANSITION AND VACCINE DEVELOPMENT [ATTACH type="full"]17297[/ATTACH] EURUSD advances in the early Asian trading hours amid prevailing risk-on market mood encouraged by the news that Joe Biden officially commenced his transition process to the white house. He also elected Jane Yellen, a former US Federal Reserve Chair as the new Treasury Secretary. Besides, the investor sentiment got a boost after the coronavirus vaccine developed by AstraZeneca showed promising results in the late-stage clinical trials. As of now, the currency pair is trading at the 1.1850 level, up by 0.09%. Coming to the previous session, the currency pair initially surged to the high of 1.1905 level after a top US official from the vaccine development effort commented on Sunday that the vaccine would reach US healthcare workers and several others by mid-December. However, later in the session, the greenback gained ground following the release of upbeat US Services PMI that came at 57.7 versus the anticipated 55.8, the highest in nearly five years. Subsequently, EURUSD settled the day in red at 1.1839 level, down by 0.14%. Moving ahead, investors can take cues from the German IFO Business Climate data as it could lead to volatility in the pair. On the other hand, the US will publish CB Consumer Confidence data and the Richmond Manufacturing Index report scheduled later in the day. SOURCE FXVIEW FB: [URL="http://www.facebook.com/fxviewdotcom/posts/240450237497350"]www.facebook.com/fxviewdotcom/posts/240450237497350[/URL] [/QUOTE]

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