Best Live Forex| Comex| Recommendations Provider

After nosediving to 1.2401 level in the previous trading session, Sterling found some support in the early Asian hours on Friday, courtesy to the release of better than expected UK macro data. The GfK Consumer Confidence statistics came at -30 vs -36 forecasted. As of now, the cable is trading marginally higher by 0.04% at 1.2432. On Thursday, the pair came under intense selling pressure and registered a massive plunge of 165 pips. This was after the BOE intensified its response to counter the slowdown from the COVID-19 by announcing a 100 billion pound increase in its bond-buying program, while keeping its benchmark interest rates at 0.1%. Further, the BOE Governor, Andrew Bailey stated that the unemployment in Britain remains elevated, despite good rebound in the economy after ease in the lockdown restrictions. Besides, the greenback continued to attract the safe-haven bids as increasing concerns of the second wave of coronavirus across the globe, had directed investors to pr

The bullion recoups its previous session losses as it attracts safe-haven bids on Friday amid fears of second wave of coronavirus. Across the globe, countries are witnessing a rise in the number of cases. China reported 25 more cases linked to the Xinfadi market which has brought the total to 200 only from this meat market. Parts of U.S have seen rise in the number of hospitalizations in the past week. California, Texas and Florida reported more than 3000 cases each on Thursday. Meanwhile, Germany reported 400 new cases from a slaughter house in North Germany, which raises fear among the investors Talking about the previous session, initially, gold touched its three days high at 1737.73 on the back of fears of the second wave of COVID-19. However, later in the American session, the bullion turned negative on broad based strength of USD. The U.S released cheerful Philly Fed Manufacturing Index and CB Leading Index data that overshadowed the dismal Unemployment Claims data.