UK Announces Covid Vacine, GBPUSD drops? What?
Can someone explain why the GBPUSD would DROP on GOOD news for the UK??
The investors are doubting that a EU-Brexit deal will be reached. Arcadia group, the high street clothing retailer which represents more than 1 000 stores is going into administration, about 15, 000 jobs are at risk.
@a-m-ayite but did that news come out at the same time as the covid vaccine announcement? If it did, I didn't see it on my Xenith
I thought the covid vaccine news came out after the break out happened on EURGBP.
I don't think the fall of the sterling was triggered by a particular news on Xenith. I personnaly bought EURGBP on the asian session because of the build up just below a long term trendline and the fact that the UK didn't seem to reach a trade deal with the EU combined with bearish news about Arcadia.
Is the vaccine are main driver force news right now for GBP? - no, but it have impact after main driver news
BREXIT and big money £ who can go out of UK without a deal - that is a driver
Move was created for news from EU diplomat in the morning UE time "...there is still ! big differences in agreement..." + time running out - make big uncertain on the market
Arcadia - what is that and who cares? in best scenario - false break. I saw a many, many... news like that: "Disney to cut 28k + Boeing 30k.." is USD moving?
It is, but one company or some of don't change the overall pictures. It is not good news ofcourse, but that numbers was too small for the all country. When BIG car makers was in front of colapse - that was create some of false breaks.
Despite it is still hard to asses in sure it was real drive force for the the market.
EcoData Calendar delivery the answer of Unemployment rate and employ and that is clear signal for all Traders around the world.
Usually when the numbers are arrive with the lightning (surprise! :D ) is good to place the order (if it was not previously factored into the market, like last time lockdown in UK - then every body know that number will be extra low with lightning)