Forex Signals News Today: Dollar in demand Here is what you need to know on Monday, May 25:
The new week has kicked off with dollar strength as the US and China have kept tensions high. Thin liquidity and potential erratic movements may occur as the US and UK are on holiday.
Coronavirus: The number of confirmed cases has topped 5.4 million and COVID-19 has talent he lives of around 345,000, nearly 100,000 in the US. Chinese scientists have announced progress with a treatment that neutralizes the virus.
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UK: Prime Minister Boris Johnson remains under pressure after senior adviser Dominic Cummings violated the lockdown. Decisions about Brexit and the next loosening steps are awaited. Chancellor of the Exchequer Rishi Sunak is reportedly preparing to bailout strategically significant companies to avoid “disproportionate harm” to the economy.
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Negative rates: David Ramsden, a member of the Bank of England, has joined his peers in opening the door to negative rates, weighing on the pound.
Europe: Austria, the Netherlands, Denmark, and Sweden – the “Frugal Four” – object the Franco-German plan to increase the EU budget by €500 billion that includes joint debt and direct grants and opt for loans and conditionality. Negotiations continue ahead of the EU Summit in mid-June.
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The German IFO Business Climate for May is set to show a bounce from the lows of 74.2 points in April. WTI Oil is consolidating at around $33.
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Cryptocurrencies: Bitcoin is trying to stabilize after falling below the $9,000 level over the weekend – Forex Signals News Today: Dollar in demand
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