On Friday, the trades in the European session are relatively calm. The main currencies are traded in a small plus, and the protective assets are in the red. The growth of risky assets is caused by optimism about the negotiations between the United States and China. White House economic adviser Larry Kudlow said yesterday that the deal is close to completion.
Inflation figures in the Eurozone were in line with market expectations. Published data By Eurostat showed that in October inflation in the Eurozone remained unchanged at 0.7%, which is in line with the previous data and market expectations. The monthly index was lower and was 0.1%.
The risk-taking holds the pair at 1.1028. Before the weekend, I’d be very wary of Washington’s statements on the deal, as China says the tax negotiations are deadlocked because Trump doesn’t want to repeal them completely.
I believe that we will see another euro at 1.10. Now we follow the level of 1.1020. As soon as the sellers pass it, buyers will start to close long positions before the weekend. At the hourly TC, the balance point is at 1.1010.
Vladislav Antonov, analyst at Alpari
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.