Dollar stands strong with support from domestic data and virus optimism
06.02.2020 - Korneychuk Evgeniya
Dollar stands strong with support from domestic data and virus optimism

Dollar stands strong with support from domestic data and virus optimism

The U.S. Dollar stood strong on Thursday after gaining support from firm domestic data and an optimistic viewpoint that the coronavirus’ impact on the economy would slow down.

Amid reports of the virus infecting more than 28,018 people and raising the death toll to 563, the World Health Organization soft-pedaled news skeptical to the progress of finding a treatment. The comment from the WHO helped boosted trader confidence.

Forex markets also started garnering more attention for market drivers including U.S. private payrolls; which had recorded its biggest gain in nearly four years. The service sector has also been seen picking up.

This brought the Dollar up in morning trade, sitting at $1.0994/euro – just below a one-week peak that it had reached overnight.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from Umarkets.com or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue
×

Help with deposit?