Good and bad news | 31 March 2020

31 March 2020, GBP/USD

GBPUSD trading plan:

Good and bad news for the British currency. Ratings agency Fitch cut Britain's sovereign debt rating, saying the country's debt levels would jump as the government ramped up its spending to offset the near shutdown of the economy in the face of coronavirus COVID-19. Fitch downgraded the country by one notch to 'AA-'. This factor forces investors to sell UK bonds. This is negative news for the pound. The U.S. president Donald Tramp said he does not want to see the energy sector “wiped out” over low oil prices brought on by the conflict between Russia and Saudi Arabia. This is a positive signal for the oil market and the British currency, as assets correlate with each other.

Trading recommendation: range 1.2255 -1.2355.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus