FX Market Encouraged By Trading Movements
- EUR/USD is hitting high in the last two weeks
- GBP/USD is also moving towards a positive market
- The market is awaiting important testimonies from the US
Major markets worldwide are going through a rough patch. Most of the countries are trying their hard to come back into the market, starting this week. In the States, the government is trying its best to support the businesses by offering the required loans and support. The Dow Jones has surged about 900 points this Monday. This is marking a massive difference in the market and sentimental shift too. The move is supporting the EUR, GBP, and USD currencies to see a positive side during this crisis. Meanwhile, the Asian markets are following the American lead and are expecting substantial gains shortly.
EUR/USD FX is Breaking Out of the Slump
The EUR and USD currency are facing a tough time as their harmful data, and the risk-off sentiment is trading below $1.08 points. Following the rally as seen yesterday, the pairs are trading towards a high of $1.095 in the coming two weeks. This is good news for all the traders who are trading in EUR/USD currency. However, the EU ministers are coming up with a virtual meeting to understand the interests of traders who are dealing with the trading market.
Sterling to Improve Mood for All the Traders
Similar to that of EUR/USD, the GBP/USD market is likely to have a few benefits in the coming weeks. It is being traded at 1.22 points right now, which has grown compared to the previous weeks. Employment data will also be weighing heavily on the data of currencies with forex brokers expecting a frightening day ahead.