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Old 09-02-2021, 15:03
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KostiaFM KostiaFM is offline
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Default Re: Daily Market Analysis by ForexMart

EUR/USD. February 09, 2021 Euro is stable around 1.2100

The euro continues to trade in the area of ​​local highs near 1.2100. The European currency is growing, despite weak statistics from the eurozone. Sentix investor confidence index in February fell to -0.2 points against 1.3 in January. At the same time, the forecast assumed an increase to 4.1 points.

Data from Germany also turned out to be worse than forecasted: the statistics on industrial production reflected a zero change in the indicator against the forecast of growth by 0.1% m/m and the previous fact of increase by 1.5%.

So, we can say that the EUR/USD pair is growing mainly due to the general weakness of the US dollar in the Forex market. The American currency is weakening amid the process of adopting the stimulus package in the United States. Some days before, a bill was passed to approve Joe Biden's $1.9 trillion anti-crisis program without Republican support in the Senate.

Today the macroeconomic calendar is empty, so the pair will move moderately near the 1.2100 level.
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