FX MARKET REPORT 16.07.2020
GBP/USD has been on the back foot as weaker parts of economic indicators take priority. US Retail Sales, BoE speculation and coronavirus figures are of interest. Support awaits at 1.2535, which is where the 200 SMA hits the price. EUR/USD is managing well to keep business around the 1.14 neighbourhood despite posting small losses so far in the second half of the week. The dollar index is trading at the 96 level however it is expected to weaken about 2% to 94.1 by the second quarter of next year according to Bloomberg. Goldman Sachs expected a weak dollar too in a report this week.