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The US-China trade talks continue to drive the markets. Appetite for risk assets grew as Beijing announced the details of the phase one deal.
As part of this, both sides will be pulling back on the tariff hikes even if both sides reach a partial deal. So far nothing has been confirmed, but investors remain optimistic that the developments will lead to a formal announcement.
EU Commission Lowers Growth Forecasts
The European Commission released the fresh Autumn forecasts for the eurozone. The commission lowered growth for the eurozone, expecting a 1.1% increase. This is down by 0.1 percentage point from the previous forecasts. The GDP for 2020 was also down from 1.4% previously to 1.2%. On inflation, the commission expects consumer prices to average 1.2% this year and gradually rise to 1.3% by 2021.
EURUSD Could be Posting Further Declines
The currency pair is consolidating near the support area of 1.1075 – 1.1062. Price action is trading below this level. A strong close would confirm ...
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