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Nov 23 - 07:55 AM

EUR/USD - Down As Energy Surge Outweighs Improving PMI

By Jeremy Boulton  —  Nov 23 - 05:35 AM
  • Gas prices surge - Natgas +7%, LNG +9% nL1N32J0CS

  • Brent crude oil rebound raises risk of a bear trap nL1N32J0DG

  • Eurozone composite PMI rises to 47.8 in November from 47.3

  • German composite PMI 46.4 from 45.1

  • EUR/USD which reached 1.0348 start European session drops to 1.0298 EBS

  • Break into hourly Ichimoku cloud risks run towards base around 1.0260

  • EUR/USD traders should consider the carry trade nL1N32J0JD


Source:
Refinitiv IFR Research/Market Commentary

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