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Daily Market Analysis 14.07.2023: EURUSD

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Instrument: EURUSD

Bullish Preference: A buy position is envisaged if price trades above  1.12540  with take profit at 1.12813.

Bearish Preference: A sell position is envisaged if price trades below 1.11844 with take profit at 1.11575.

Fundamentals:
USD:    Prelim UoM Consumer Sentiment    3PM

Comment:  
The latest US inflation report showed price pressures easing by more than anticipated, a much-needed boost for the Federal Reserve as they continue to tackle inflation. Yesterday’s release sent US Treasury yields tumbling further as traders continue to price in a potential ’one and done on US rate hikes. 

Analysis: SCRUM Team

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