Market News and Charts for October 23, 2020

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Despite the obvious hurdles dealt with by the Australian dollar, the sentiment for the EURAUD still favors bearish financiers. The trading sets prices are extensively forecasted to go down to its assistance level in the trading sessions as the euro gets pushed by the rising variety of coronavirus cases in the region. Several countries in the bloc remain in deep trouble as they experience the huge revival of cases; from powerhouses like France, to smaller sized nations like the Czech Republic. Simply just recently, Paris announced that it will be extending its curfew as the second wave threatens to make an even bigger damage to the country. Meanwhile, the Czech prime minister himself apologizes to his individuals as the nation grapples to combat the coronavirus. On the other hand, the Aussies gains are relatively limited thanks to the potential customers of another rate of interest cut in November issues bearish investors of the set as it would drain the strength of the antipodean currency then.

The Swiss franc gives the British pound a beating in the trading sessions, securing two successive gains versus the sterling. The currency exchange rates costs are bound to tumble down to its assistance level in the brexit-related concerns and coming days continue to bombard bullish financiers. The tensions are escalating in between the UK and the European Union, with France stubbornly expressing its dismay with the prolonged trade contract talks between the 2 parties. Earlier today, it was reported that France cautioned that it would vote versus any deals within days if British Prime Minister Boris Johnson continues to decline making concessions in the settlement table. French President Emmanuel Macron even stated that he thought that October will lastly be the trade talks due date. Investors flock to the Swiss franc today as Macrons statement fuels negativeness among financiers, raising concerns regarding whether the UK and the EU can settle their distinctions.

The deadlock among lawmakers is slowing down bullish investors, however it is widely believed that when a deal has been nabbed, the United States dollar will depreciate versus the single currency. Aside from that, another element that is worth being thought about for the pair is the upcoming United States elections, which will take place in simply a few days from now. The eurozones financial efficiency is helping bullish financiers press their gas pedals and gain in the trading sessions.

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USD/JPY

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Bearish investors continue to control the US dollar to Japanese yen exchange rate, requiring prices lower this Friday as they redeem their losses the other day. Specialists are stating that the US dollar doesnt not have adequate strength to buoy the sets rates higher regardless of the ongoing news concerning the Congress stalling the US stimulus bundle. United States Senator Kirsten Gillibrand from the District of New York stated that the “poison tablet” that holds up a stimulus plan is Senate Majority Leader Mitch McConnells persistence in stating that any deal should consist of a provision that will lim

EUR/USD

The deadlock amongst lawmakers is slowing down bullish financiers, but it is extensively believed that once a deal has been snatched, the US dollar will diminish against the single currency. The eurozones financial efficiency is assisting bullish financiers press their gas pedals and gain in the trading sessions. Bearish investors continue to control the US dollar to Japanese yen exchange rate, forcing costs lower this Friday as they redeem their losses yesterday.

Hey traders! Below are the latest forex chart updates for Fridays sessions. Gain from the offered analysis and apply the recommended positions to your next move. Excellent day and Good Luck!

GBP/CHF

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The exchange rates costs are bound to topple down to its support level in the brexit-related concerns and coming days continue to bombard bullish investors. Financiers flock to the Swiss franc today as Macrons declaration fuels negativeness among financiers, raising worries as to whether the UK and the EU can settle their distinctions.

EUR/AUD