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Fed prints money

Fed prints money | 30 December 2020

30 December 2020, EUR/USD

Fed prints money

EURUSD trading plan:

The ECB has published fresh statistics on the change in assets on the balance sheet. The indicator increased by €5.7 billion in a week, against €59.2 billion a week earlier. The Federal Reserve released its statistics earlier, where assets on the balance sheet increased by $41.4 billion. Fed prints money faster than the ECB, which is negative for the US currency. U.S. Senate Majority Leader Mitch McConnell blocked immediate consideration of a measure to increase COVID-19 relief payments to $2,000, adding another twist to fractious negotiations over fiscal stimulus. This factor will have an additional negative impact on the U.S. currency.

Investment idea: Buy 1.2250 and take profit 1.2290.

David Johnson
Analyst of «FreshForex» company
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