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Old 07-12-2018, 09:44
ObasiFXMart ObasiFXMart is offline
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Default Re: Daily Market Analysis by ForexMart

EUR/USD Fundamental Analysis: December 7, 2018



The movement of the global trades has affected the US dollar being the safe haven and added downward pressure on the euro major pair. Recent headlines about the arrest of top executive and add worries about the US-China relation that reduces appetite for riskier assets on Thursday. The dollar didnít gain a leverage on the early uptrend but was instead brought down by the negative US employment report, failing to meet the expected figure. It seems that the USD bulls wasnít swayed as much with optimistic US ISM non-manufacturing PMI data with its sudden uprise.

Moreover, the shift in the US Treasury bond yield curve that signals potential recession that adds pressure to the dollar and adds momentum to the pairís intraday positive momentum. The price rose higher than 1.1400 handle, close to the weekly high on Tuesday. It has been moving steadily and oscillating in a narrow trading band during the Asian session. Now, investors are monitoring the US NFP monthly jobs reports that could drive a significant momentum today. Yet, trades still have to be heedful with nearing OMC monetary policy decision in the latter days of the month. Thus, there are less expectations for the day and resume its trading range-bound in a broader trading range.
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