The US Dollar fell out of favor with FX traders during London trading on Thursday.
Yesterday oil dropped after the markets learned that the United States crude stockpiles increased and in light of the decision of the OPEC+ coalition to ease its supply cuts.
Gold and Silver hit record highs; U.S. Dollar drop accelerates; S&P 500 hits 5-month high; Forex market comes alive
The Pound Sterling eased back and away from the recently struck 1 ½ month peak as worries escalate around a no-Deal Brexit.
Yesterday the oil markets posted important gains, in light of the approval of the European Union stim-ulus plan and due to the rising hopes for the discovery of a Covid-19 vaccine.
Gold and Silver hit record highs; U.S. Dollar drop accelerates; Euro strong; Forex market comes alive
The GBP/USD pair briefly edged above a key level during London trade on Tuesday, pushing higher by an agreement from the European Union on a much-needed recovery fund, as well as optimism that a vaccine for the Coronavirus may have been found.
The European Union just reached a historic deal on a stimulus plan whose purpose is aiding the economy of the bloc to recover, after five days of negotiations.
Gold and Silver hit record highs; NASDAQ 100 Index near all-time high; Euro strong
The Euro remains close to the recently struck 19-week peak after Charles Michel, Chairman of the EU Summit, said that a fund to help EU economies recover from the ravages of the Coronavirus pandemic could include grants up to €390 billion.
According to New Zealand's Finance Minister, the economy is doing better than expected mainly due to the country's early economic and health response to the coronavirus pandemic.
Stock markets mostly seeing weak selling; Gold and Silver near record highs; Euro strong
The greenback is trying to hold onto recent gains as a result of safe-haven flows as concerns of a Coronavirus resurgence grow.
The Pound Sterling edged lower as the appetite for risk waned among FX traders, and sent them over to the safe-haven currencies instead.
Yesterday, relevant data about China's economic performance was released.