Nov. 9, 2020
After starting the day at 1.1892, EUR/USD rallied to 1.1923, hitting its highest point in 2 months, It later lost 107 pips and is now trading at 1.1816
Meanwhile, data for the German Balance of Trade released today at 7:00 AM came out at 17.8, beating projections of 15.8 and showing improvement over the preceding figure of 15.4.
The Euro/Dollar is getting closer and is now only 185 pips from the support line at 1.1631. Dipping below it might indicate further losses are ahead.
Taking a wider perspective, performance of these other symbols usually suggests a setback for the Euro/Dollar as the Dollar/Swiss is trading around 0.9133 after starting the session at 0.9003 (down 1.45%).
Positive performance can be seen looking at other symbols, as the Euro/Yen went up from 122.74 to 124.42 (1.37%, 167 pips).
At the same time, Gold is trading around 1,861.3 after starting the session at 1,951.7 (down 90.4 dollars). The New-Zealand Dollar is trading around 0.6821 after starting the session at 0.6775 (up 0.68%).
The market will be looking forward to the upcoming release of the following indicators: Germany's ZEW Economic Sentiment Index looks to be getting worse with an expected 40 while the preceding figure was 56.1, New data will be released tomorrow at 10:00 AM. Germany ZEW Current Conditions (Nov) expected to decline to -65 when its preceding data was -59.5, data will be available tomorrow at 10:00 AM. United States JOLTs Job Openings (Sep) expected to decline to 5.59 when its preceding data was 6.493, Data will be available tomorrow at 3:00 PM. The United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 12:00 PM.