President Trump to convene videoconference with G7 leaders in April and May – Reuters

Ross J Burland FXStreet

Reuters reports that President Donald Trump will cancel an in-person meeting of G7 leaders at Camp David in June because of the coronavirus and will hold a videoconference instead, the White House said on Thursday.

The decision comes as nations around the world seal their borders and ban travel to stop the virus' spread.

Trump held a videoconference with the leaders of the world’s major industrialized countries earlier this week and plans to repeat that in April, May and June when the physical meeting at the presidential retreat in Maryland was scheduled to take place.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD revisits 1.1780, or daily lows

EUR/USD now comes under further selling pressure, breaking below the 1.1800 support to reach daily troughs on Thursday. The pair’s decline comes in response to a sudden bout of USD strength amid steady geopolitical tensions. Ealier in the day, the ECB’s Lagarde delivered cautious remarks, although the currency remained apathetic.

GBP/USD makes a U-turn, challenges 1.3500

GBP/USD rapidly leaves behind Wednesday’s strong advance, putting the 1.3500 support to the test on Thursday. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold sticks to the bid bias, flirts with $5,200

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The precious metal adds to Wednesday’s optimism despite the Greenback trades in a firm fashion, although geopolitical tensions in the Middle East keep the yellow metal bid for now.