The EURUSD pulled back to the highest level since November 2 after the relatively robust American jobs data- forextrade forextrading
It rose to a high of 1.0036, the highest point since October 27. It has bounced back by about 5% from its lowest level this year.momentum after the latest German industrial production data. According to Destatis, industrial output expanded by 0.6% in September, higher than the median estimate of 0.2%.
Gas prices have also dropped because of the rising gas storage in most European countries. In Germany, gas stockpiles has risen to about 99%. Therefore, companies and households are expected to see lower prices and more activity during the holiday season. As such, it means that Washington will be under an intense deadlock. In most cases, investors favor a deadlock, which explains why American stocks rallied on Monday.
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