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Fundamental Analysis
Fundamental updates by Solid ECN
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[QUOTE="SOLIDECN, post: 214834, member: 80239"] [HEADING=1][JUSTIFY]Euro resumes gains ahead of US inflation data[/JUSTIFY][/HEADING] [JUSTIFY]Euro rose in European trade against dollar on track for two-month highs amid prospects of further policy tightening by the ECB. The greenback lost additional ground ahead of US inflation data in October, which will provide additional clues on the Fed's next rate hike in December. EURUSD rose 0.35% to 1.0043, with a session-low at 1.0006, after falling 0.6% yesterday, the first loss in four days on profit-taking away from two-month highs at 1.0096. [img]https://i.ibb.co/DVCkZCt/eurusd.png[/img] [/JUSTIFY] [HEADING=1][JUSTIFY][B]The ECB[/B][/JUSTIFY][/HEADING] [JUSTIFY]German two-year treasury yields are hovering near late 2008 highs at 2.252% recently. Such a spike to 14-year highs are based on expected policy tightening by the ECB soon to close the policy gap with the US. [/JUSTIFY] [HEADING=1][JUSTIFY]The Dollar[/JUSTIFY][/HEADING] [JUSTIFY]The dollar index fell 0.3% on Thursday on track for two-month lows at 109.36 against a basket of major rivals. Such a decline comes ahead of major US inflation data in October, which will provide crucial clues to the Fed's December policy decisions. Currently, traders estimates a 67% chance of a 0.5% rate hike by the Fed in December, and a 33% chance of a 0.75% rate hike.[/JUSTIFY] [/QUOTE]
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