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USD Slide Deepens
The US dollar has been on the back-foot again on Thursday, extending the week’s losses. The growing concerns around the ongoing coronavirus outbreak (first US unknown origin case reported in California) are weighing on USD sentiment with the index trading down to 98.72 last from highs of nearly 100 last week. Durable goods and home sales data, both due later today, have the potential to cause more volatility for USD.
Euro Recovery Continues
EURUSD has been firmly higher again today as the continued slide in USD helps support the single currency. EURUSD is now trading back up at 1.0932 last, nearing the 1.0986 resistance level. During comments made yesterday, ECB’s Lagarde said that fiscal support from governments was actively welcomed, highlighting the ECB’s ongoing concern for the health of the Eurozone economy.
GBP Lower Again
GBPUSD has been sharply lower again today with price sellin...
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