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EUR/USD Backs Off After US-China Trade Tensions Escalate

EUR/USD attempted to rally today but failed as trade tensions between the United State and China escalated. Macroeconomic data had little impact on the currency pair as there were very few reports released at the start of the week.

Net foreign purchases were at $74.8 billion in July. That is compared to $65.1 billion predicted by specialists and -$36.5 billion registered in June. (Event A on the chart.)

Yesterday, a report on NY Empire State Index was released, showing a decline from 25.6 to 19.0 in September. Analysts had predicted a smaller drop to 23.2. (Not shown on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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