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Positive dynamics of the credit market

Positive dynamics of the credit market | 17 June 2020

17 June 2020, EUR/USD

Positive dynamics of the credit market

EURUSD trading plan:

The LIBOR rates on U.S. dollar loans are falling in the London interbank market, while interest rates on loans are rising in European currency. This is positive signal for pound sterling, since excess dollar liquidity has a negative effect on the exchange rate of the U.S. dollar. The interest rate on a three-month loan in U.S. currency in London is 0.299%. This rate was 2.9 basis points higher a week ago. The interest rate on a three-month loan in European currency in London is -0.397%. A week ago, this indicator was 0.5 basis points lower.

Trading recommendation: Buy 1.1250 and take profit 1.1315.

David Johnson
Analyst of «FreshForex» company
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