Analysis EUR/USD. The Euro starts consolidating

forex-news-euro_3The major currency pair is quite confident early in another November week.

EURUSD is no longer falling this morning; right now, it is consolidating. The current quote for the instrument is 1.1026.

Last Friday, the US President Donald Trump said that he wasn’t ready yet to consider the possibility of completely removing import tariffs on Chinese goods introduced earlier. That’s not good news, because investors are already tensed enough because of the trade agreement between these countries, which hasn’t been signed yet.

There were such rumors before: all these talks that after signing the first phase of the trade deal the parties might remove import duties on each other’s goods crashed into the White House’s tough stance.

However, right now there is neither fixed date of signing the agreement nor other nuances or details. Nevertheless, investors believe that the deal will be made in the nearest future because both the USA and China need it badly.

The USA celebrates Veterans Day today, so the markets are off. The Euro Area won’t provide any interesting statistics as well, that’s why investors in the major currency pair are left to their own devices. The European numbers that might really attract market players’ attention will be published not earlier than Thursday: the preliminary report on the Euro Area’s GDP in the third quarter of 2019.

Orgin: RoboForex

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