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The excess of dollar liquidity in the banking system

The excess of dollar liquidity in the banking system | 04 August 2020

04 August 2020, EUR/USD

The excess of dollar liquidity in the banking system

EURUSD trading plan:

We are expecting a continuation of the upward trend in the European currency. There is a negative trend for the US dollar in the interbank lending market. The Libor rate on three-month loans has renewed its five-year low. US bankers no longer apply to the Federal Reserve for short-term refinancing. The last 21 days, REPO auctions are recognized as not held due to the lack of bids - this is the maximum period this year. It is negative for the dollar, because it signals an excess of dollar liquidity in the banking system.

Trading recommendation: Buy 1.1751 and take profit 1.1800.

David Johnson
Analyst of «FreshForex» company
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