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Positive dynamics of the credit market

Positive dynamics of the credit market | 10 April 2020

10 April 2020, EUR/USD

EURUSD trading plan:

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 euro, 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 1.311%. This rate was 15.7 basis points higher a week ago. The interest rate on a three-month loan in British currency in London is -0.225%. A week ago, this indicator was 3.5 basis points lower.

Trading recommendation: Buy 1.0930 and take profit 1.0960.

David Johnson
Analyst of «FreshForex» company
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