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eurusd

US indices continued to hit record highs despite the government stalemate over coronavirus aid.

Upbeat pandemic news followed by reports of a cheap and readily available steroid treatment helped US indices record highs.

The WHO has recommended the drug (dexamethasone and hydrocortisone) as trials seem to reduce the risk of death for COVID-19 patients.  

The DXY managed to end positively just under the 93 handle despite lower than expected ADP job figures. The weakness in the euro played a significant part in the buck’s strength.

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Deflation Turns to Sell-Off

Sentiment shifted as deflation kicked in across the eurozone. The euro closed 0.8% lower against the dollar on Wednesday falling short of the 1.19 mark.

Investors jumped on profit-taking in EURUSD since Tuesday as the rally above 1.20 was false. Indications from ECB members suggest that pressure for more monetary stimulus could weigh in against the eur...


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