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EUR/USD Mid-Session Technical Analysis for December 10, 2019


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The Euro is trading slightly higher against the U.S. Dollar on Tuesday, helped by a better-than-expected German economic sentiment survey. However, gains are being limited because traders doubt the news will change the rhetoric of the European Central Bank.

The message from the ECB is unlikely to change much, while the Fed could cut rates next year, which means markets focus is likely to stay on the Fed, said Richard Falkenhall, senior currency strategist at SEB.

Its too early to expect any major change when it comes to ECB communication, he said.

At 13:03 GMT, theEUR/USDis trading 1.1076, up 0.0012 or +0.11%.

Investors are almost certain the Fed will leave rates unchanged when its two-day meeting ends on Wednesday. In a years time, however, money makers are pricing in a full 25-basis point cut.

The ECB is likewise expected to keep interest rates steady on Thursday. A probability of less than 50% for a 10-basis-point rate cut by the end of next year is priced into the Euro Zone money markets right now.

For the full article and graphs:

https://www.fxempire.com/forecasts/article/eur-usd-mid-session-technical-analysis-for-december-10-2019-618896



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