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On November 24th, local time, during the 20th G20 Leaders Summit on November 23rd, Canadian Prime Minister Mark Carney and Indian Prime Minister Narendra Modi agreed to begin negotiations on a new trade agreement called the "Comprehensive Economic Partnership Agreement." Some analysts see this as the latest sign of a thaw in diplomatic relations between Canada and India. In June 2023, Hardeep Singh Nijal, a Sikh leader in British Columbia, Canada, was assassinated. Canada accused the Indian government of involvement in the murder, which India denied. The two countries accused each other and expelled diplomats; India also imposed a visa ban on Canadian citizens. Trade agreement negotiations between the two countries, which began 15 years ago, were ultimately suspended.Ukraines top security official, Umerov, said: Ukraine expects to make more progress today.On November 23, Ukrainian President Volodymyr Zelenskyy issued a statement regarding the talks between the Ukrainian and US delegations in Geneva, signaling positive progress. In his statement, Zelenskyy noted that current indications suggest the US-proposed peace plan may include several elements crucial to Ukraines national interests. Zelenskyy stated, "Both sides reached a consensus that the US proposal can take into account several elements based on Ukraines vision and crucial to its national interests. Ukraine is making further efforts to ensure that all elements truly and effectively achieve the main goals desired by the Ukrainian people, ultimately ending the bloodshed and war."U.S. Treasury Secretary Bessenter: The government shutdown has caused a permanent $11 billion blow to U.S. GDP.U.S. Treasury Secretary Bessenter: If Senate Democrats cause a government shutdown, Republicans should abolish the lengthy debate system.

The EUR/USD Price Analysis Is Supported By Rebounds From 1.0840-45

Alina Haynes

Apr 11, 2023 14:37

EUR:USD.png 

 

On Tuesday morning, the EUR/USD reaches a new intraday peak near 1.0880 as bulls attempt to regain control following a two-day downtrend. Consequently, the Euro-U.S. dollar pair recovers after the convergence of the 100-day simple moving average and a two-week-long ascending support line.

 

However, the recovery movements of the major currency pair remain elusive unless the quote remains below the 13-day-old horizontal resistance area surrounding 1.0930.

 

A one-week-old descending trend line near 1.0900 is protecting the EUR/USD pair's near-term upside at press time.

 

In the event that the EUR/USD pair maintains strength above 1.0930, the 1.0975 monthly high may serve as the last line of defense for pair sellers before pushing the price to February's high of 1.1033.

 

Alternately, a breach of the 1.0840-45 support confluence would drive the price to the 1.0788 monthly low without hesitation.

 

Future EUR/USD skeptics may be challenged by the 50% and 61.8% Fibonacci retracement levels of the pair's March-April upswing, respectively near 1.0745 and 1.0690.

 

To restore market confidence, supporters of the EUR/USD must surpass 1.0930. The quote remains on the bears' radar despite the fact that 1.0845-40 limits the near-term decline.


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