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technical analysis

Markets were trading somewhat quietly on Monday as the holiday season nears.

A lack of fresh details on the US-China trade deal kept markets in check. Equities posted modest gains on the day.

The USD was also on the back foot as trade tensions eased. Data over the weekend saw China’s figures showing modest improvement.

Euro Unchanged After Weak Flash PMI Data

The euro was little changed after fresh PMI numbers for December. IHS Markit’s flash PMI figures showed that the data for the services and manufacturing sector were mixed.

The December flash manufacturing PMI fell to 45.9 from 46.9 in November. Services PMI was up from 51.9 in November to 52.4 in December. Based on the above figures, forecasts show that the eurozone economy will close at the worst level since 2013.

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EURUSD Consolidating Near Support

The common currency attempted to break past the price level of 1.1131. However, the gains were qu...

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