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EURUSD Volatility Ahead of US Consumer Confidence


Aug.29.2017

EURUSD Volatility Ahead of US Consumer Confidence: The USD continues to get hit with no value buyers. The big winners out of USD weakness have been the EUR and AUD,  with the EUR/USD having the potential of hitting 1.20 and perhaps even the long-term 50% Fibonacci retracement level of 1.22 in extension.

EURUSD Volatility Ahead of US Consumer Confidence EURUSD Volatility Ahead of US Consumer Confidence

On the economic calendar today we have the French GDP for Q2 out at 6:45 AM GMT which is expected to remain unchanged. During the New York session, the US Consumer Confidence (AUG) will be in focus at 2 PM GMT expected to tick lower to 120.6 from last month’s 121.1. A miss of expectations could make things even tougher for the USD while a better than expected result could put a temporary tap on its downfall.

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