Home Forex News Risk-on Sentiment Continues Amid Hope Of US Fiscal Stimulus.

Risk-on Sentiment Continues Amid Hope Of US Fiscal Stimulus.

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Euro inching higher after supportive economic data

Global equities and emerging currencies rises further amid optimism grew that lawmakers may agree new stimulus for the economy and President Donald Trump said he would return to the White House after three days in hospital. Accordingly the dollar index, which measures the greenback against a basket of currencies, fell by 0.4 per cent to $93.445, its biggest daily decline since August 28.

Meanwhile euro rises above 1.1750 to a dollar mark after economic indicators for the euro zone suggested the pace of the region’s recovery slowed to a crawl in September. Aseries of purchasing managers’indices, which track business confidence, found little growth in services activity

US Services PMI Rises, Employment Shows Rebound.

Activity in the US service sector rose at a faster rate in the month of September, according to a report released by the Institute for Supply Management on Monday. The ISM said its services PMI rose inched up 57.8 in September from 56.9 in August, with a reading above 50 indicating growth in the service sector. The report also showed a rebound in employment in the service sector, with the employment index climbing to 51.8 in September from 47.9 in August.

TREND : SIDEWAYS

Time                                      :           06/10/2020

Pivot                                     :           1.1771

Technical View                     :           LONG ABOVE 1.1791

Target                                   :           1.1811, 1.1835, 1.1853, 1.1903

Technical View                      :           SHORT BELOW 1.1751

Target                                   :           1.1731, 1.1687, 1.1659, 1.1639

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