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Fundamental Analysis
Fundamental updates by Solid ECN
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[QUOTE="SOLIDECN, post: 215020, member: 80239"] [JUSTIFY]Euro gives up four-month high on profit-taking Euro fell in European trade off four-month highs on track for the first loss in three days on active profit-taking, while two-year German yields fell. Dollar rebounded from multi-month highs after strong data on US retail sales in October following remarks by Fed officials which asserted the continued efforts to bring inflation down. EURUSD fell over 0.3% to 1.0359, with a session-high at 1.0398, after rising 0.45% on Wednesday, the second profit in a row, marking four-month highs at 1.0481. [img]https://i.ibb.co/9t1Ms5C/eurusd-n.png[/img] Such gains came as concerns about a wider conflict in eastern Europe subsided as the NATO stated the recent missile that hit Poland was probably a mistaken shot from the Ukrainian air defence force. German Yields Two-year German treasury yields fell over 0.6% today away from recent 14-year highs, in turn pressuring euro. A recent spike in yields to 14-year highs at 2.252% played a major role in recent extensive gains by the euro as the ECB prepares more aggressive policy tightening to come. The Dollar The dollar index rose 0.3% on Thursday away from three-month lows at 105.34, on track for first profit in three sessions against a basket of major rivals. The gains came after data showed US retail sales rose past estimates in October. [img]https://i.ibb.co/LpW6PQg/dxy.png[/img][/JUSTIFY] [/QUOTE]
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