Negative dynamics of the credit market | 28 May 2020

EURUSD trading plan:

The LIBOR rates on U.S. dollar loans are rising in the London interbank market. This is positive signal for American currency; low dollar liquidity has a positive 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 0.371%. This is the highest level in the last two weeks! The European Union's executive unveiled a 750 billion euro plan on Wednesday to prop up economies hammered by the COVID-19 pandemic, with Italy set to receive the lion's share of around 170 billion euro. This is good news for the European currency!

Trading recommendation: range 1.0965 -1.1035.