EUR - BULLISH 1️⃣ Euro remained well supported by the latest optimism over a landmark agreement on the EU's €750 billion pandemic recovery fund – aimed at aiding the region’s worst-hit economies. 2️⃣ The IHS Markit Eurozone Manufacturing PMI was revised higher to 51.8 in July 2020. 3️⃣ Industrial producer prices in the Euro Area rebounded 0.7% from a month earlier in June, beating expectations of a 0.5% gain.
NZD - BEARISH 1️⃣ Market participants expect the New Zealand's Unemployment Rate in the second quarter to rise from 4.2% to 5.8% with the Employment Change declining by 2%. 2️⃣ Risk-off market sentiment expected as surging coronavirus infection rates across the US dampens investor hopes of economic recovery.
===== TECHNICAL ===== 📊 We long this pair on RBS level + SMA50 area. 📊 EURNZD in bullish mode.
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