Covid concerns remain unabated, as Sydney extends the lockdown restrictions amid escalating outbreaks. Meanwhile, markets remain cautious ahead of the US inflation and Fed Chair Jerome Powell’s testimony on the semi-annual Monetary Policy Report released last Friday. Therefore, the US dollar catches a fresh bid as a safe haven, with the S&P 500 futures dropping 0.17%, despite the rally in the Asian stocks. The regional equities advance, tracking the record close on Wall Street last week.
The major rebounded from three-month lows of 1.1782 on Thursday after the European Central Bank (ECB) adopted a symmetric 2% inflation target in its strategic review meeting.
EUR/USD Short (Sell) Enter at: 1.18338 .TP: 1.18096 S.L: 1.18601
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