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The EUR/USD is trading at the level red due to the coronavirus is accelerating that slow down the economic recovery.

The pair is trading to the lower session near at the level 1.1835 according to the press time that representing the decline at the level 0.20%. The currency pair ran to the level near 1.859 the 61.8% Fibonacci retracement of the sell from the level at 1.2014 to 1.1612 during the early Asian trading session and hours. The Dollar is having bids against most of the other currencies along with losses in the S&P 500 Futures and the oil prices.

As we all know that France announced the daily record of the New coronavirus causes infections this Sunday that confirmed that reaching 52,000. Italy announced the partial lockdown in which they will remain in effect.

Subsequently, the easiest course of action for the EUR/USD pair gives off an impression of being at a disadvantage. While the US, as well, is facing a second influx of the Covid, its national bank isn’t feeling the squeeze to convey a quick boost.

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Jeffrey Halley

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