Good news and bad news | 21 اكتوبر 2020

USDJPY trading plan:

Good news and bad news. The three-month dollar Libor rate, which is the benchmark in the European interbank lending market, has renewed its historic low, which signals a surplus of dollar liquidity in the financial system. This is a negative for the dollar. A bullish rally in the U.S. stock market will have a positive impact on the value of USDJPY, as assets are correlated with each other. U.S. homebuilding rebounded in September as the housing market continued to be the star of the economic recovery, driven by record-low interest rates and a migration to the suburbs and low-density areas in search of more room for home offices and schooling.

Trading recommendation: range 104.90 -105.55.