- EUR/USD continues Wednesday gains.
- German final July CPI signals deflation
- US Initial Claims due today
EUR/USD is trading in the green today and is above the critical 1.1800, posting fresh multi-day highs.
The common currency has enjoyed consecutive up-days and had come back from the weekly low of 1.1700 dollars, posted a few days back. This area also marks the monthly lows and a Fibonacci level of the 2017-18 rally.
The market participants are watching the developments in the US Congress for possible signs of a stimulus deal.
The risk-on mood of the markets is helping the euro as well as other pro-risk assets. The sentiments got a boost from the most recent positive results from Germany and the rest of the euro members, reflected in Sentix Index released on Monday and ZEW survey on Tuesday. All the reports supported a ‘V’-shaped economic recovery in the Eurozone after the coronavirus triggered a financial meltdown.
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