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Trading news

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9 Oct 2020

UK Chancellor Sunak to unveil local furlough scheme – The Times

In its pre-release e-copy, The Times mentions about UK Chancellor Rishi Sunak’s announcement over the beta version of a national furlough program. The news mentions that the British Finance Minister is up for testing a two-third pay system for workers of the businesses closed due to the coronavirus (COVID-19).

Details of the news suggest the announcement will be made on Friday that will allow the business to avail the government help as long as pubs, restaurants and other businesses are closed.

Market reaction

GBP/USD shrugs off the news, despite swift reaction with a seesaw move between 1.2925 and 1.2940, by the time of the press. The pair traders are more interested in Brexit headlines and COVID-19 news than the stimulus updates, as it seems.

Oct 9, 2020

AUD/USD: Stimulus hopes empower run-up towards 0.7185/90 resistance confluence

AUD/USD takes bids near 0.7170 at the start of Friday’s Asian session. In doing so, the aussie pair attacks Thursday’s top of 0.7170 amid risk-on mark

AUD/JPY Price Analysis: Bulls gearing up for 50-day SMA

AUD/JPY crosses 76.00 in a run-up beyond a multi-day-old resistance line, now support, during the early Friday morning in Asia. The cross closed beyon