International News
EUR/USD managed to close the week with gains as the rally ignited by the European Central Bank last week extended further, taking the pair to its highest level in over a month. The world’s most liquid pair advanced almost 1% intraday to close the week off peaking at 1.1036, a level we last saw on 2nd November. The strong US retail sales data was unable to provide any support for the greenback. Overall retail sales, however, gained only 0.2% as automobile sales fell and cheaper fuel prices weighed on receipts at service stations. Retail sales rose 0.1% in October. Consumer spending slowed in September and October despite a tightening labour market which is lifting household income [...]
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