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Old 20-11-2019, 13:21
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KostiaFM KostiaFM is offline
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Default Re: Daily Market Analysis by ForexMart

EUR/USD. November 20, 2019 – Euro weakly declining amid pessimism over trade negotiations

The euro continues to decline moderately after a steady rise the days before. The current quotation of the pair EUR/USD is 1.1053. The euro is under the influence of conflicting news coming from the front of trade negotiations between the United States and China. On the one hand, the US authorities extended the license for the Chinese company Huawei for another 90 days. On the other hand, the Chinese side still doubts the possibility of concluding a final agreement. This information made many traders go into defensive assets.

Moreover, China has protested against the United States approval of the Hong Kong Bill («On the Protection of Human Rights and Democracy in Hong Kong»), considering it to be interference in China and a violation of international laws. Such actions could again cool the relations between the two countries, which, for its part, negatively affect further trade talks and put strong pressure on risky assets. As a result, the euro may resume decline to the area of ​​1.1030.
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