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Key Points: - The Fed cut rates by 25 basis points, with Chair Powell expressing a positive outlook on the current U.S. economic situation. - Improvement in U.S. consumer confidence. - The "Trump trade" remains strong. - Weakening of the yuan amid disappointment over China’s response to local government debt issues.
Major Economic Indicators: - November 12: Germany’s October Consumer Price Index (CPI) - November 13: U.S. October Consumer Price Index (CPI) - November 14: U.S. October Producer Price Index (PPI) - November 15: Speech by Federal Reserve Chair Powell, Japan’s Q3 GDP, U.K. Q3 GDP, U.S. October Retail Sales
EUR/USD Chart Analysis: With the lower support line breaking down, EUR/USD has retreated to the 1.07000 level. The chart indicates a break from the upward trend, suggesting that EUR/USD could further decline to the 1.04500 level. A bearish outlook is expected to persist in the short term.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.