EUR/USD: Market wrap-up - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair closed with gains, and near its daily high set above the 1.0900 figure, helped by a run towards safety triggered by China.

    Key Quotes:

    "Chinese stocks led the way, as the Shanghai Composite plummeted over 7% during the first hour of trading, leading to a second early close in the week.

    The decline dragged worldwide stocks lower, although they recover some ground by the end of London's session after Beijing announced it will suspend the rule that pauses trading after a 5% decline and suspends it after a 7% decline, as its seems it's only good to fuel the sell-off in equities these days.

    European data was mixed, as the EU´s economic sentiment indicator unexpectedly rose to 106.8 in December from 106.1 in November, significantly better than consensus, but Retail Sales for the same month disappointed, falling for a second month in-a-row.

    In the US, initial jobless claims dropped to 277K, better than previous, in line with the rising trend born early December, slightly disappointing reading ahead of the US Nonfarm Payroll report to be release early Friday."
    For more information, read our latest forex news.

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