Lloyds share price jumped by more than 1% as the UK started paving a way for easing the current lockdown. Investors also ignored the weak services PMI data and the disappointing auto sales numbers from the UK.
The USDCHF pair was little changed even as the State Secretariat for Economic Affairs (SECO) released disappointing consumer sentiment data.
The GBP/USD pair rose in early trading as the market waited for a busy data day. The pair also rose because of the overall weakness of the US dollar, which has dropped by about 5 basis points.
The Dow Jones index declined by more than 1% as the market reacted to a series of negative data. The US and China are likely headed towards a disastrous trade war among a pandemic. Meanwhile, the US economy is crumbling, and the earning season has been disappointing. Against this backdrop, a former analyst at Goldman Sachs is warning investors that the stock market could drop by more than 40% this year.
Silver price has lagged gold that of gold this year. The price of silver has declined by more than 16% while that of gold has soared by more than 12%.
The USD/CAD rose by more than 30 basis points as traders reacted to the CoT report released on Friday, the falling crude oil prices, and the rising number of coronavirus cases.