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Fundamental Analysis
EURUSD
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[QUOTE="Terry_8, post: 188448, member: 65834"] EURUSD RALLIES SIGNIFICANTLY TO ITS HIGHEST LEVEL SINCE MAY 2018 [ATTACH type="full"]17349[/ATTACH] The risk-fueled rally prompted EURUSD to peak the 2-1/2-year highs in the early Asian trading hours as the continued optimism over the vaccine and the US fiscal stimulus talks is boding well for the single currency. As of now, the pair the currency pair is trading at 1.2075 level, up by 0.07%. The funds keep on flowing out of the safe-haven dollar as the prospects of the US stimulus brightened after Treasury Secretary Stephen Mnuchin and Federal Reserve Chairman Jerome Powell hinted at the need for additional fiscal support. Coming to the previous session, EURUSD soared above the 1.20 handle, its highest level marked in 2020, as the prevailing risk-on sentiments and the depressing US data gave a beating to the greenback. The news that US bipartisan lawmakers came up with a $908 billion covid-19 relief package lifted the market mood, thus benefiting the riskier asset EURUSD. Besides, dismal US data added to pressure on the greenback as the ISM Manufacturing PMI came at 57.5, worse than the anticipated 57.9, while the employment sub-component plummeted from 53.2 in October to 48.4. Subsequently, the pair settled at 1.2067 level, with a whopping gain of 1.21%. Moving ahead, the investor can take cues from the Eurozone PPI and Unemployment Rate data for short-term trading impetus. Later in the day, the focus will shift towards the Fed Chair Powell’s testimony SOURCE FXVIEW FB: [URL="http://www.facebook.com/fxviewdotcom/posts/246302730245434"]www.facebook.com/fxviewdotcom/posts/246302730245434[/URL] [/QUOTE]
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