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EUR/USD rises toward 1.1250

FXStreet (Córdoba) - EUR/USD was rejected from levels under 1.1200 and is now attempting to rise on top of 1.1250. Currently it trades at 1.1235/38, facing the hourly 20-SMA. Price action continues to be limited across the board, particularly in European crosses.

The euro is back at the level it had at the beginning of the day against the US dollar. Economic data from the Euro zone showed two sides: improving confidence and inflation trending lower. The Economic Confidence survey showed an improvement in September while inflation in Germany showed a lower-than-expected reading, with the annual CPI index, back to negative territory.

In the US, a reading of consumer confidence also showed numbers above expectations. The report from The Conference Board improved from 101.3 to 103.00 in September; analysts were expecting a decline.

EUR/USD bounces back to 1.1240

The economic numbers had little impact on the EUR/USD pair that is trading around 1.1240, moving away from the lows and approaching daily highs. During the Asian session it reached 1.1281, before reversing. At the beginning of trading in Wall Street bottomed at 1.1194 but quickly bounced back above.

GBP/USD awaits Carney while bearish below 200 DMA

GBP/USD is currently trading in recovery mode at 1.5158 with a high of 1.5206 and a low of 1.5127.
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EUR's correlations moderating - Scotiabank

Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that the EUR’s correlation to both gold prices and risk assets is moderating.
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