GBPUSD

Terry_8

Trader
Mar 23, 2020
34
3
9
49
GBPUSD EDGES HIGHER AMIDST HOPES OF CORONAVIRUS VACCINE

GBPUSD is flashing green in the Asian session on Friday as hopes of coronavirus vaccine declined the safe harbor bids for the greenback. In early-stage human trials, Oxford University believes that they have discovered a vaccine that could produce both antibodies and T- cells. As of now, the pair is trading 0.19% higher at 1.2570.
Talking about the previous trading session, the pound initially surged above 1.26 handle on the release of better than expected macro-economic statistics from the UK economy. The Claimant Count Change came at -28.1K vs 250K expected.
However, the pair failed to hold onto the intraday gains and plunged to an intraday low of 1.2519 as escalation in the US- Sino trade tensions underpinned the demand for safe-haven greenback. This was in wake of the reports that the Trump administration is planning for a travel ban to the US by all the Chinese communist party members.
Additionally, the better than anticipated US monthly Core Retail Sales and Philly Fed Manufacturing Index boosted the demand for the greenback. Subsequently, the pair ended the session at 1.2551, with 0.26% loss.
Going forward, investors will wait for BOE Gov Bailey's speech and Prelim UoM Consumer Sentiment for intraday trading opportunities.

Source: www.facebook.com/fxviewdotcom/posts/20083659145871
 

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