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27 November 2020

Stock markets took a breather yesterday as vaccine optimism faded and the reality of new cases took over. Germany is the latest country to announce partial restrictions into 2021, as new cases there continue to rise. In addition, the results of one of the vaccine clinical trials have been called into question, raising concerns that the rollout will be delayed.

With the rise in risk aversion, the dollar was able to stabilize. However, it was unable to make big gains over the session, albeit with lower trading volumes due to Thanksgiving. If the trend continues today though, it could see greater upside movement.

Data wise, the focus is on German Imports Price Index and Eurozone’s Service Sentiment. Comments from the ECB’s Panetta could influence the euro. He is likely to talk up additional easing by the ECB in December.

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Please note that this update is provided by Fexco Corporate Payments for your information only. It does not constitute advice. You must rely entirely on your own judgement when making an Order and entering into a contract with Fexco Corporate Payments and any decision you make to buy and/or sell currency is made solely on your own judgement. Fexco Corporate Payments  is regulated by the Central Bank of Ireland and is regulated by the Financial Conduct Authority for the conduct of payment business in the UK

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