- EUR / USD clears losses and rises towards 1.1710.
- US Elections: There is no winner yet and it could take even longer.
- Eurozone: Markit PMI data revised upwards.
The EUR / USD is trading just below 1.1700, the highest zone since votes began in the US. The pair had previously fallen to 1.1600 and then started a ragged rally, which just extended to 1.1708.
The rebound from 1.1600 is being accompanied by a decline in the dollar, which is particularly true against the yen and major European currencies.
On the data side, the final Eurozone Markit PMI report confirmed the rise and included upward revisions in most countries. The data was overshadowed by the US elections.
No definition in the US
It is not yet known who is the winner of the US presidential elections and expectations are growing. This scenario, without a quick winner, is one of the most feared in the markets. Wall Street futures are still on neutral ground.
Attention is focused on the states of Wisconsin, Michigan, Pennsylvania, and Georgia, where votes are missing. President Trump is leading in most of those states, but it is estimated that the votes that remain to be counted, which are those who voted by mail and in advance, would greatly favor Biden.
Credits: Forex Street
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