21.05.2019: USD extends gains as GBP and EUR weaken (USD, GBP, CAD, BITCOIN)

21.05.2019: USD extends gains as GBP and EUR weaken (USD, GBP, CAD, BITCOIN)


At the opening of the North American trading session the pound sterling plunged to the 4-month low.
Today traders are waiting for the speech of the British Prime Minister.
Theresa May is expected to offer a new draft deal on Brexit.
Ahead of this event, some pound sellers were fixing their profits.
As a result, the GBP/USD pair retreated from the 4-month low, having risen by 20 pips to 1.2720.
Euro traders are also in a bad mood today.
The single European currency has weakened ahead of the Parliamentary election.
The election result is likely to bring about a confrontation between the political forces in the region.
Amid that, the American currency gained ground.
The US dollar index that measures the dollar’s value against other major currencies
has approached the level of 98.10.
However, the greenback did not manage to recoup losses against the Canadian dollar.
The USD/CAD pair was moving in a favorable direction for the loonie.
The quotes were hovering near the level of 1.3420 thanks to rising oil prices.
Meanwhile, the cryptocurrency market is calm today.
After bitcoin had broken below the level of 8,000 dollars per coin,
it continued trading sideways near the level of 7,900.
The news about the latest SEC decision failed to stir up traders’ activity.
Reportedly, the US Securities and Exchange Commission rejected creation of the bitcoin ETF once again.
Perhaps, cryptocurrency traders are waiting for positive news that could trigger an upward movement.
So, such sentiment prevailed at the end of this trading day.
How will it change tomorrow?
To find it out, watch our videos on InstaForex TV channel.

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