Latest Breaking News On - Canada nov - Page 3 : comparemela.com

• No  significant events Currency Summaries EUR/USD: The euro strengthened against greenback on Friday after sources said European Central Bank is unlikely to cut its already-record low policy rate as this would do little to revive the pandemic-hit euro zone economy, playing down concerns about a strong euro. Traders were left scratching their head this week when Dutch central bank governor Klaas Knot said the ECB  had room  to push its Deposit Facility Rate, currently at minus 0.5%, further below zero if needed to stem a rally in the euro. The sources noted that the ECB’s focus now was on keeping financing conditions, i.e. bond yields and bank lending rates, stable, and said that the exchange rate was a secondary issue. Immediate resistance can be seen at 1.2150 (Daily high), an upside break can trigger rise towards 1.2209 (23.6%fib).On the downside, immediate support is seen at 1.2057 (38.2% fib), a break below could take the pair towards 1.2000 (Psychological level).

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