Home Forex News Euro Remains Steady After ECB Policy Members Subside Worries Over Rising Euro.

Euro Remains Steady After ECB Policy Members Subside Worries Over Rising Euro.


Euro continues to hold the upside trend after ECB policymakers may hinted any dovish signs of tweaking policies. Admittedly the euro’s recent appreciation has generated a lot of attention; it is in fact close to its historical average by most measures. In-fact ECB policymakers addressed that the exchange rate doesn’t largely influences their economic projections which gave further boost in euro. We think euro will confine in a range of 1.1750 – 1.1950 for next few weeks as mentioned in our previous reports.

US Market Falls as Tech Sell-off Resumes

The US stock market finished session deeply in the red on Thursday, 10 September 2020, as risk sentiments dented after the U.S. Senate Republicans failed to advance a new coronavirus stimulus bill and simmering tensions between Washington and Beijing. Most of sectors declined, with tech stocks being notable losers amid increasing worry on Wall Street about a tech bubble, with those stocks fuelling the Nasdaq to record highs despite the coronavirus pandemic’s hit to the economy.

US Weekly Jobless Claims Unchanged-US first-time claims for unemployment benefits came in at 884,000 in the week ended September 5th, the Labor Department revealed in a report on Thursday. The report said initial jobless claims came in unchanged from the previous week’s revised level. The Labor Department said the less volatile four-week moving average fell to 970,750, a decrease of 21,750 from the previous week’s revised average of 992,500. Meanwhile, the report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, climbed by 93,000 to 13.385 million in the week ended August 29th.


Time                                      :           11/09/2020

Pivot                                      :           1.1853

Technical View                     :             LONG ABOVE 1.1873

Target                                   :            1.1893, 1.1912, 1.1996, 1.2011

Technical View                     :             SHORT BELOW 1.1833

Target                                   :            1.1813, 1.1774, 1.1741, 1.1676


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