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EUR/USD advances further, tests 1.0630

FXStreet (Edinburgh) - The single currency keeps pushing higher on Tuesday, now sending EUR/USD to the 1.0625/30 band, or daily peaks.

EUR/USD better bid ahead of US docket

The pair remains on a firm footing during the first half of the week, managing to retake the 1.06 handle as the offered tone around the greenback keeps growing bigger.

Back to the US economy, November’s manufacturing PMI gauged by Markit is due next, seconded by the key ISM Manufacturing, Construction Spending and the speech by Chicago Fed C.Evans.

EUR/USD levels to watch

As of writing the pair is up 0.52% at 1.0621 and a breakout of 1.0805 (monthly lows May and July) would expose 1.0829 (high Nov.12) and then 1.1012 (55-day sma). On the flip side, the immediate support aligns at 1.0519 (low Apr.13) en route to 1.0500 (psychological level) and then 1.0456 (2015 low Mar.16).

Canada’s economy registered 2.3% growth in Q3 matching market estimates

Statistics Canada today reported Canada’s economy grew 2.3 per cent in the third quarter, matching expectations. Gains in automotive exports and a pick-up in consumer spending offset the drag from lower oil prices and led the economy to grow for the first time in three quarters. Growth in the last month of the third quarter, September is however reported to have contracted 0.5 per cent, the largest since March 2009. Interruption in oil production that resulted from fires and maintenance shutdowns caused growth to decline.
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Canada RBC Manufacturing PMI increased to 48.6 in November from previous 48

Canada RBC Manufacturing PMI increased to 48.6 in November from previous 48
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