Markets Anticipate More Negative Rates As Euro and Swiss Franc Rally
Login

Markets Anticipate More Negative Rates As Euro and Swiss Franc Rally

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

The strengths of the euro and the Swiss franc continued to dominate the markets today. This is despite an increase in the number of cases of coronavirus infection in Europe. Meanwhile, Brexit talks remain stuck. Traders are betting that more global central banks such as the RBA and the Bank of England will soon join the negative interest rate club. At the moment, the weakest of them are the Australian and the Kiwi. Dollar and Sterling are mixed.

Technically, 1.1830 resistance for EUR/USD and 125.08 resistance for EUR/JPY will attract some attention in the American session. The break will pave the way to the highs of 1.2011 and 127.07. The 0.9162 resistance in EUR/GBP is also important, and a break will signal the completion of the pullback from 0.9291 and lead to a retest of this high.

Finally, while the 1.5738 resistance is still a long way off, a break will confirm that the EUR/CAD has completed the corrective pattern from 1.5978. We can see the EUR/CAD then rally to the 1.4991 high to resume the entire rally from 1.4263 later.
Risk Appetite Strengthens the Euro
The single currency strengthened for the third day in a row, boosted by positive market sentiment after major equity markets rebounded from a weak opening in Europe.

In the absence of relevant macroeconomic releases, investors remained fairly optimistic despite the lack of progress in talks to spur the spread of the coronavirus in the United States. With Wall Street growing more than 1%, the safe-haven US dollar is losing ground against riskier currencies.

In Europe, the euro was not embarrassed by the blocking of trade negotiations on Brexit and the spread of the coronavirus: France reported a record number of hospitalizations, and Ireland imposed severe restrictions.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News