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A lack of any clear fundamentals over the day on Monday, saw investors staying cautious. The major narrative of trade wars and risk aversion kept equity markets in check. Some of the major US equity indices closed in the red, while safe-haven gold and yen continued to remain in favor. The US dollar index gapped lower on Monday’s open but closed directionless.
Euro Posts Modest Gains
The common currency was seen closing the day with some modest gains. This came despite the ongoing political turmoil in Italy. The euro was seen brushing aside concerns as the Italian government could be facing down a no-confidence vote sometime soon.
EURUSD Trades Flat at the Moment
The currency pair has been trading in a rather tight range over the past few days. A sideways range has been established within 1.1185 and 1.1250. This flat price action could potentially see a breakout in the near term. The bias is still to the u...
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