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🇬🇧 GBP - BULLISH
1️⃣ Investors await any development on whether both parties could reach an agreement by the end of the year, but media reports suggested negotiators remained deadlocked on key issues like fishing rights, the deal’s governance, and the European Court of Justice’s role. There will be a new round of talks next week and another in August.
2️⃣ The prevalent USD selling bias extended some support to Pound.
3️⃣ The flash version of the UK PMI prints showed that both, the manufacturing and services sector activities quickened its pace of expansion in July.
🇺🇸 USD - BEARISH
1️⃣ Concerns over rising issues of coronavirus infection in the United States.
2️⃣ The greenback was also pressured by a weaker tone surrounding the US Treasury bond yields.
3️⃣ The dollar index was trading lower for the 4th straight session on Thursday, touching 94.77, a new low since March 9th as investors came to terms that US recovery will take longer as the coronavirus pandemic in the US is far from controlled and some states have rolled back reopening plans.
4️⃣ Other countries including EU members seem to have passed the pick of infections and initiated new stimulus schemes to support further the economic recovery.
1️⃣ Investors await any development on whether both parties could reach an agreement by the end of the year, but media reports suggested negotiators remained deadlocked on key issues like fishing rights, the deal’s governance, and the European Court of Justice’s role. There will be a new round of talks next week and another in August.
2️⃣ The prevalent USD selling bias extended some support to Pound.
3️⃣ The flash version of the UK PMI prints showed that both, the manufacturing and services sector activities quickened its pace of expansion in July.
🇺🇸 USD - BEARISH
1️⃣ Concerns over rising issues of coronavirus infection in the United States.
2️⃣ The greenback was also pressured by a weaker tone surrounding the US Treasury bond yields.
3️⃣ The dollar index was trading lower for the 4th straight session on Thursday, touching 94.77, a new low since March 9th as investors came to terms that US recovery will take longer as the coronavirus pandemic in the US is far from controlled and some states have rolled back reopening plans.
4️⃣ Other countries including EU members seem to have passed the pick of infections and initiated new stimulus schemes to support further the economic recovery.
Trade closed: target reached
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