by SignalFactory · November 13, 2019 | 08:21:55 UTC
trades better bid above the 1.10 handle ahead of the European open, having
defended the last on several occasions in the overnight trades, Bears now await
the key US inflation report and Federal Reserve (Fed) Chair Powell’s testimony
for the next push lower.
spot is seen somewhat benefitting from a pause in the broad-based US dollar
rally after the US President Trump’s latest comments failed to offer any fresh
details on the US-China trade deal while increasing the trade anxiety.
the tepid bounce, EUR/USD remains vulnerable and risks falling below the 1.1000
level, tracking the weakness in the Chinese Yuan vs. the US dollar, as the
trade uncertainty led China economic slowdown fears continue to weigh heavily
on the Chinese currency. Note that China is Europe’s biggest export market and
the bloc’s remains at a competitive disadvantage should the Yuan
of the US inflation report, the German Final CPI figures, Eurozone Industrial
Production data, and trade developments could offer some trading impetus to the
prices. However, the main event risk for Wednesday remains Powell’s testimony
on the economic outlook before the congressional Joint Economic Committee at
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