18-month high against USD, a new record for the Euro Forex Market

Forex Distribution

The effects of the coronavirus pandemic are still managing to surprise everybody as the EUR/USD forex market managed to break a new record today, hitting a night which it has not seen in 18-months.

According to a report from Securities, the pair moved above the 1.15 value for the first time in the above-mentioned period. Mainly, this happened because of the passing of a large EU recovery deal this week, agreed upon following four days of intense negotiations between European leaders.

In the meantime, the surging markets in China have prompted regulators to issue warnings against illegal margin trading, as most markets soared. And finally, brokers in the United States have reported new record numbers in both revenue and account numbers.

Recovery deal takes Euro to new heights

On Wednesday, the EU leaders were forced to make several compromises within the recovery deal, including reducing the amount of grant aid. However, the deal gave a boost to the EUR/USD market.

Following this, traders focused on this specific pair are confident that this move can spark new life into economies across Europe and even beyond.

Surpassing expectations for US brokers

Surprisingly or not, two of the biggest brokers in the United States have reported record revenue numbers, while also surpassing earnings expectations for the second quarter 0f 2020.

Specifically, TD Ameritrade reported an increase in daily trade numbers with a 3.4 million daily average, which is basically more than 60% up, compared with the previous quarter. Also, Interactive Brokers took advantage of a retail trading boom, reporting daily trades up with 111% for the latest quarters, as several traders ‘joined the club’ during lockdown.