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FOMC announced the establishment of the FIMA Repo

FOMC announced the establishment of the FIMA Repo | 01 April 2020

01 April 2020, EUR/USD

FOMC announced the establishment of the FIMA Repo

EURUSD trading plan:

The Federal Reserve announced the establishment of a temporary repurchase agreement facility for foreign and international monetary authorities (FIMA Repo Facility) to help support the smooth functioning of financial markets, including the U.S. Treasury market. The Federal Reserve provides U.S. dollar-denominated banking services to FIMA account holders in support of Federal Reserve objectives. The FIMA Repo Facility, which adds to the range of services the Federal Reserve provides, will be available beginning April 6 and will continue for at least 6 months. This factor reduces the demand for the dollar and will have a negative impact on the value of the U.S. currency.

Trading recommendation: Buy 1.0955 and take profit 1.1011.

David Johnson
Analyst of «FreshForex» company
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