FX Market Report 27/04/2020
Foreign Exchange Report 27/04/2020
Euro Dollar
EUR/USD is trading above 1.0850, as the number of coronavirus cases in Europe continues to drop and countries in the bloc gradually start to lift lockdown restrictions. The pair closed almost half a per cent lower during last Friday’s trading session, but a previous recovery has left the single currency in a good position, ahead of a European Central Bank meeting later this week. The Bank of Japan announced more stimulus, while the Federal Reserve is also expected to announce important decisions later this week.
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The Cable
The Pound-to-Dollar exchange rate has risen to roughly 1.2450, after plunging almost a full per cent last week. British Prime Minister Boris Johnson will return to work after recovering from the Covid-19 illness and is expected to announce the easing of some lockdown measures. This arrives after the Sterling was seen falling -0.94% against the greenback last week, with losses accumulating over the course of Monday’s trading session.
The Chunnel
GBP/EUR is trading at a spot rate of 1.1423, seen recovering on the charts, and may possibly explore its upside potential over the coming days. The Sterling was down 0.67% against the eurozone currency last week, amid uncertainty about the long-term unity of the bloc. The Pound underperformed against all other major currencies, bar the oil-effected Norwegian Krone.
The Loonie
Elsewhere, the Pound-to-Canadian Dollar was little moved last week. The two riskier currencies were both on the negative side ahead of the weekend, with the pair trading at a spot rate of 1.7393.
About us
deVere Insights is a proud component of the deVere Group. Our company has always prided itself on leading the way in the sphere of wealth management. This website is in place to share information and expertise.
Foreign Exchange Report 27/04/2020
Euro Dollar
EUR/USD is trading above 1.0850, as the number of coronavirus cases in Europe continues to drop and countries in the bloc gradually start to lift lockdown restrictions. The pair closed almost half a per cent lower during last Friday’s trading session, but a previous recovery has left the single currency in a good position, ahead of a European Central Bank meeting later this week. The Bank of Japan announced more stimulus, while the Federal Reserve is also expected to announce important decisions later this week.
READ MORE: The Dangers of Living in a Tax-Free Country
READ MORE: Is a stock market crash an investment opportunity?
The Cable
The Pound-to-Dollar exchange rate has risen to roughly 1.2450, after plunging almost a full per cent last week. British Prime Minister Boris Johnson will return to work after recovering from the Covid-19 illness and is expected to announce the easing of some lockdown measures. This arrives after the Sterling was seen falling -0.94% against the greenback last week, with losses accumulating over the course of Monday’s trading session.
The Chunnel
GBP/EUR is trading at a spot rate of 1.1423, seen recovering on the charts, and may possibly explore its upside potential over the coming days. The Sterling was down 0.67% against the eurozone currency last week, amid uncertainty about the long-term unity of the bloc. The Pound underperformed against all other major currencies, bar the oil-effected Norwegian Krone.
The Loonie
Elsewhere, the Pound-to-Canadian Dollar was little moved last week. The two riskier currencies were both on the negative side ahead of the weekend, with the pair trading at a spot rate of 1.7393.
About us
deVere Insights is a proud component of the deVere Group. Our company has always prided itself on leading the way in the sphere of wealth management. This website is in place to share information and expertise.
