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Fundamental Analysis
EURUSD
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[QUOTE="Terry_8, post: 188309, member: 65834"] EURUSD EXTEND GAINS TO NEAR THREE MONTH HIGH OF 1.1970 LEVEL AMID VACCINE OPTIMISM [ATTACH type="full"]17330[/ATTACH] The single currency trades a tad higher versus its US counterpart early Monday as investors continue to shun the safe-haven dollar due to ease in worries about the unfolding global economic recovery amid vaccine optimism. However, the recent ascent in the currency pair remains capped owing to the heightening US-China trade tensions as the Trump administration is planning to blacklist the producer of oil and gas CNOOC and Chinese chipmaker SMIC. As of now, the currency pair is trading flat to positive at 1.1970 level, with mild gains of 0.07%. Coming to the previous session, EURUSD peaked at 1.1963 level courtesy of the broad-based weakness in the US dollar and the upbeat Eurozone data that reinforced expectations of a quick global economic recovery. The French Consumer Spending data stood at 3.7% versus the anticipated 3.6% and, the French Prelim GDP came at 18.7%, much better than the forecast of 18.2%. Consequently, the currency pair concluded the session on a cheerful note at 1.1962 level, up by 0.42%. Moving ahead, investors can take cues from the German Prelim CPI, Italian Prelim CPI, and Speech of ECB President Lagarde as it could lead to volatility in the pair. Later in the day, the focus will shift towards the US Chicago PMI and Pending Home Sales data. SOURCE FXVIEW FB: [URL="http://www.facebook.com/fxviewdotcom/posts/244810947061279"]www.facebook.com/fxviewdotcom/posts/244810947061279[/URL] [/QUOTE]
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