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On Thursday, the U.S. Index reached a new low again. Investors’ optimism about the economic stimulus reached by the United States continued to rise, boosting risk appetite and pushing the stock market to climb putting pressure on the U.S. index. But the Fed also made it clear that it will continue to inject funds into the financial market until the US economy achieves a stable recovery, boosting the dollar index.

Fundamentals:

Originally, the market was optimistic about the post-Brexit trade that the EU and the UK would finally reach. But there are still major differences between the two sides, especially in the fishing industry. Concerned about whether the EU and the UK can sprint to reach a Brexit agreement this week, market optimism has become cautious. The pound against the U.S. dollar stopped its upward trend after reaching a new high.

Technical side:
After the pound against the US dollar recorded a new high yesterday, the daily bullish momentum has gradually shrunk, but the long-term bullish trend remains unchanged. The short-term level is formed at the top, and the slow decline is mainly in the early trading, and today is mainly the short selling on rallies.

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Currency Analysis…By Jack at Spark Global

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