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Risk sentiment was in check on Monday as investors stay on the sidelines for global cues.
The US earnings report for the fourth quarter of 2019 is underway. Meanwhile, Washington announced that it will remove China’s label as a currency manipulator.
Investors see this as another positive move towards improving trade relations between the two economies.
EUR Gains on Weaker USD Despite Weaker German WPI
The German wholesale price index was flat for December. This pushed the WPI on a year over year basis to -0.1%. Besides the WPI data, economic data from the eurozone was sparse. The euro, however, brushed aside the data largely due to the weakness in the US dollar.
EURUSD Seen Retesting Resistance Level
The common currency was retesting the resistance level of 1.1131 level amid a quiet day from the eurozone. The consolidation that is taking place near the confluence of the trend line and the horizontal...
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