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Equity markets resumed the rally following Iran’s response to the US attacks.
Investors remain hopeful that the tensions will not escalate too far.
This has resulted in the precious metal retreating amid a surge in risk appetite. Investors are also looking forward to this week’s payroll report.
Germany Factory Orders Slip in November
The latest factory orders in Germany saw a decline. Industrial orders fell 1.3% on the month beating forecasts of a 0.2% increase and a decline from 0.2% previously.
Trade balance figures from France were also weaker.
EURUSD Testing the Rising Trend Line
The common currency is currently testing the rising trend line. After the break down below the support level of 1.1131, this will be the next dynamic support. In the event of a break down below this trend line, the lower support at 1.1100 will be open for a retest. This potentially confirms the downside below 1.1131.
Sterling Under Pressure on Rising Dollar Strength
The pound is trading weaker amid a br...
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