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Equity markets got a boost on Tuesday after news emerged that the Trump administration was delaying the tariffs on some Chinese products until December this year.
The Washington administration also cut down on the items that were to face new tariffs from next month. National security, health and safety concerns were cited as the reason behind the move. The news helped to push the US dollar higher on the day.
Euro Slips on USD Strength
The euro eased back as the greenback rose on the day. But overall the common currency remains trading flat. Economic data from the eurozone confirmed that Germany’s final inflation figures rose 0.5% on the month. This was inline with the preliminary/flash CPI estimates.
EURUSD Continues to Maintain the Sideways Range
EURUSD has been trading within the established corridor of 1.1250 and 1.1185. The tight range has led to a consolidation, which could see a breakout in the short...
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