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October 21, 2020 10:17 am

EUR/USD. October 21, 2020 – Euro hits one-month high

The Euro has managed to grow to the level of 1.1870 since the beginning of the week, but on Wednesday it started to decline to the area of 1.1840. The dollar was pressured by expectations of an early agreement on economic stimulus measures in the States: House speaker Nancy Pelosi yesterday forced politicians to speed up the process of discussing the aid package.


An additional factor that puts pressure on the US currency is the growing sympathy of US residents for Joe Biden during the election race in the States. And if Trump's main opponent wins the presidential election, a lot of money will be poured into the US economy, which is obviously not a positive factor for the dollar.


Yesterday, statistics on construction in the United States were published: the number of new home bookmarks for September increased to 1.42 million against the previous figure of 1.39 million. The number of new housing permits issued was 1.55 million after the August figure of 1.48 million. Such data provided support to the dollar, which suspended the Euro rally.


Today, the macroeconomic calendar is almost empty, in the evening hours you should pay attention to the report on the Beige book in the United States.


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