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Investor sentiment fell across the board following President Trump’s comments on the China trade deal. Trump said that it would be better to wait until the 2020 elections for a trade deal with China. The comments come in contrast to the earlier position where hopes of a trade deal with China rose on positive tweets. Meanwhile, issues relating to the US stance on the Hong Kong protests weighs heavily. The US is scheduled to raise tariffs on China if no deal is made by December 15th.
Eurozone Producer Prices Rises in October
Producer prices data for the Eurozone saw a modest increase for October. Inflation at the factory gate rose 0.1% on the month. On a yearly basis, Eurozone PPI is down 1.9%. The gains were driven in part by the energy sector which rose 0.7%.
EURUSD Attempts to Post Further Gains
The currency pair, after a brief consolidation near the resistance area, is looking to breakout higher. Although price action needs to be more convincing at this point, the bias is shift...
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