The USD remains strong. Overview for 23.03.2020
On Monday morning, the major currency pair is slightly correcting but investors’ demand for the USD remains strong.
EURUSD started another week of March by attempting to recover. The current quote for the instrument is 1.0735.
Over the previous trading week, EURUSD lost 3.3% due to high market volatility.
All key market catalysts remain the same: the coronavirus topic is major and it influences the rest of them, such as monetary policies, energy commodities, and global economies. Quarantine restrictions all over the world prevent people from their ordinary activities, thus having an effect on all macroeconomic indicators. No one knows when it is going to end, that’ why market players continue avoiding risks and switch to the USD.
In the meantime, the US Senate didn’t approve the additional stimulus in the amount of 1.4 trillion USD. Democrats were vehemently opposed to it and didn’t let the bill get enough support.
The statistics draw little attention because there is a more serious thing to worry about, the pandemic. Its influence still hasn’t been completely assessed but it’s quite obvious that investors will remember March of 2020 for a long time.