The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
The prospects for the American currency are mixed as the US economic data is bleak. Moreover, the market remains euphoric amid news of the effectiveness of the COVID-19 vaccine. These factors have prompted investors to look at riskier assets associated with global commodities and emerging markets.
Experts are confident that after a sharp fall, the US dollar will recover in the short term. However, some investors argue that the currency will decline in the long term.
Analysts from Mizuho Securities believe that the recovery of the global economy amid the growth of the Chinese economy will have a positive effect on commodity currencies. He is confident that the prospects are good. Thus, emerging market currencies with good fundamentals should benefit.
The British currency hit a two-month high against the US dollar. GBP/USD is trading above $1.33.
However, the UK has accumulated huge debts of around £400 billion to rebuild the economy from the consequences of coronavirus. In other words, the current budget deficit of the country can be compared with the deficit of the Second World War. Nevertheless, investors are betting on the pound sterling as they are waiting for the trade agreement between the UK and the EU. In the case of successful negotiations, the EUR/GBP pair will rise to the level of 0.88.
EUR/USD is trading at $1.1899. However, the USD/JPY rate changed and now, it is trading at 104.31 yen.
AUD/USD hit its highest level since the beginning of the autumn, reaching 0.73664. NZD/USD increased to 0.70036. This is the highest level over the past two years. Both currencies are risky because they are closely linked to global commodity trading.
However, the US unemployment data showed that claims for benefits rose more than expected while personal income fell. This could negatively affect the dollar. Economists believe people will start losing jobs again due to tougher restrictions on businesses aimed at halting the spread of coronavirus.
The Fed intends to buy bonds to support economic recovery. It will also negatively affect the US dollar.
The US dollar index, which measures the US dollar against a basket of six major currencies, lost 0.1% to settle at 91.892. Today, the United States celebrates Thanksgiving Day and markets are closed.
There is one more interesting fact, bitcoin failed to break the all-time high of $19,666 set in December 2017. It dropped to $17,895.
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