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Let's Check the Forex Market. Against other major currencies, the United States dollar traction on the forefront. On the day, the ICE Dollar Index climbed 0.3% to 100.20. GPB/USD pair plunged 1.1% to 1.2299. Andy Haldane is Bank of England Chief Economist. He said that for the first half of the year, economic data would most likely be very ugly. The United Kingdom rate of joblessness for the three months to February edged up to 4.0% (steady at 3.9% expected), shows the latest official jobs report. Later in the day, CPI data for March will be reported on the other hand. EUR/USD pair fell 0.1% to 1.0855. Giuseppe Conte is the Prime Minister of Italy. He said that in the next few days, his government would analyze plans to ease lockdowns gradually. Thus, it may apply from May 4. Moreover, The German ZEW Current Situation Index, regarding economic data, plunged to -91.5 in April (-75.0 estimated) from -43.1 in March. Nevertheless, the expectations bounced from -49.5 to 28.2 (-42.0 expected). Dollar USD/JPY pair gained 0.1% to 107.71. For a second straight week on continued weakness in oil prices, the Canadian dollar slid against the greenback. To a two-week high of 1.4193 USD/CAD advanced 0.3%. Meanwhile, official data showed that sales of Canada’s retail raised 0.3% in February. CPI raise for March will be released later today. NZD/USD pair slumped 1.2% to 0.5963. Adrian Orr is the Governor of the Reserve Bank of New Zealand. He said that the central bank would assess the needs for additional stimulus at its meeting in May. Now we know that the world economy is under a considerable challenge. The fast-spreading coronavirus hits the global economy. In most of the countries, there are lockdowns and quarantine. Moreover, social distancing is advised everywhere. Thus, the market is in danger too. Let’s hope that situation will change soon. Everyone is waiting economy to be back in track. Because of the lockdowns, money is not circulating. Source: Myforexnews.com
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