The US dollar has rallied a bit during the trading session on Friday to close out the week, as we touched the uptrend line and of course the ₹76 level.
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The Euro went back and forth during the trading session on Friday, showing a bit of a neutral candlestick.
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The British pound went back and forth during the trading session on Monday, as we continue to see a lot of noise in the market.
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The Australian dollar went back and forth during the trading session on Friday, as we are drifting into the weekend, more of a limp than anything else.
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Singapore’s Trade and Industry Minister Chan Chun Sing confirmed that the city-state is bracing for a more significant economic contraction than the previously forecast 4.0% annualized GDP slump.
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Get the weekly Forex forecast for major currency pairs for the week of April 27, 2020 here.
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India resists a massive fiscal stimulus, as favored in developed economies. It attempts to walk a fine line between building a bridge for the most vulnerable sectors,
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Short-term concerns pressured the US Dollar higher as liquidity concerns remain, and the US Federal Reserve is printing money at a record pace.
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US initial jobless claims continue to mount, with next week’s data likely to surpass 30 million job losses over two months due to the global Covid-19 pandemic
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Preliminary PMI data out of the UK indicated a steep slowdown, mirrored across Europe, Australia, and the US, due to the global Covid-19 pandemic.
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The Australian dollar initially pulled back a bit against the US dollar during the trading session on Thursday, but then rocketed towards the 0.64 handle later in the day.
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The Euro initially tried to rally during the trading session on Thursday but gave back quite a bit of the gains as the market reached towards the 1.0850 level.
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The British pound initially tried to rally during the trading session on Thursday but gave back quite a bit of the gains to form a bit of a shooting star.
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