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Fundamental Analysis
Fundamental updates by Solid ECN
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[QUOTE="SOLIDECN, post: 214293, member: 80239"] [JUSTIFY][img]https://i.ibb.co/VJcb5ST/800x80.png[/img][/JUSTIFY] [HEADING=1][JUSTIFY]Euro hits three-week high ahead of major European data[/JUSTIFY][/HEADING] [JUSTIFY]Euro rose on Monday for the third straight session against dollar, hitting three-week highs on prospects Bank of Japan might intervene in the market, and ahead of major European data in October. The dollar index hit multi-week lows as US 10-year yields decline while risk appetite improves in the market. EURUSD rose 0.3% to 0.9899, the highest since October 5, after rising 0.75% on Friday, the second profit in a row as investors buy up riskier assets. [img]https://i.ibb.co/qr21YWq/eurusd-secn.png[/img] [/JUSTIFY] [HEADING=1][JUSTIFY][B]Major Data[/B][/JUSTIFY][/HEADING] [JUSTIFY]Investors await important European data later today, including the manufacturing and services PMIs in October for Europe. Such data will offer clues on the state of the European economy in the fourth quarter. [/JUSTIFY] [HEADING=1][JUSTIFY]The Dollar[/JUSTIFY][/HEADING] [JUSTIFY]The dollar index fell 0.4% on Monday for the third session to three-week lows at 111.47 against a basket of major rivals. US 10-year treasury yields fell over 2% for the second session away from 15-year highs at 4.335%, improving risk appetite. Such developments come on profit-taking and prospects Bank of Japan might intervene soon in the market to support yen against major rivals. [img]https://i.ibb.co/w4FXWMq/dxy.png[/img][/JUSTIFY] [/QUOTE]
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