Both the USD and the GBP experienced recent lows against most major currencies, the GBP extended its losses due to the ongoing Brexit talks, Sunday is now deemed to be make or break it day. If there is no resolution, then both sides won’t be able to negotiate any kind of trade agreements.
The USD is weaker to the CAD and it is now in oversold territory, that means that the CAD theoretically should be trading weaker to the USD. It is trading nowhere near its 30day moving average 1.30125, 60day moving average 1.31362, and its 90day moving average 1.31431. As the U.S. COVID-19 numbers continue to grow there is a concern that the U.S. economy will slow even more, investors, even with stocks at their highs, are starting to question the near term. The more deaths and COVID-19 hospitalizations then the longer it will take for the economy to recover .
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