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Old 07-11-2019, 12:30
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KostiaFM KostiaFM is offline
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Default Re: Daily Market Analysis by ForexMart

EUR/USD. November 07, 2019 The positive news on trade talks support the euro

The full range of risky assets received support against the rise of the the news that the US and China agreed on the mutual abolition of duties on part of imported goods. This was stated today by representatives of Chinese Ministry of Commerce, which also noted that further actions of USA and PRC will depend on success in concluding a comprehensive trade deal. As a result, the pair managed to recover from the level of 1.1050 to the level of 1.1090.

However, market players doubt that global trade disagreements between the two largest economies in the world can be resolved at once by signing a nominal deal. Therefore, the risks of further problems in relations between the two countries are still high, and optimism about the success of trade debates may turn out to be short-lived.

Thus, during the day the EUR/USD pair will moderately grow to the level of 1.11.
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