The dollar stayed out of the market’s favor, falling against most major rivals but the JPY. The American currency got to advance during US trading hours, backed by better than expected weekly unemployment claims, which unexpectedly fell below 1 million, the first time since lockdowns began back in March.
The EUR/USD pair held above 1.1800, and post a fourth consecutive daily high. The Sterling weakened at the end of the day but holds above 1.30 against its American rival.
UK chief negotiator David Frost said that he believes an agreement can be reached next month. “We are not looking for a special agreement, we want a deal with at its core a free trade agreement like the one the EU has with Canada." Later in the day, UK PM Johnson repeated that "there's a very very good case for the EU to strike a zero tariff zero quota deal."
The USD/JPY pair advanced to a fresh weekly high just above 107.00 as US Treasury yields got boosted by US employment data, reaching fresh five-week highs.
European indexes closed in the red, but Wall Street tried to overcome the downbeat mood. US indexes closed mixed, with the Nasdaq up and S&P and DJIA down, all of them around their opening levels.
Hopes for a vaccine have overshadowed coronavirus concerns. However, the number of new cases is becoming worrisome in Europe. Germany reported over 1,200 new cases, the biggest daily increase in more than three months. France announced 2,500 new contagions while in Spain, they announced some 1,400 new cases. In the US, the number of new cases is stable above 50,000 per day, although daily testing has decreased.
Gold continued to recover ground, ending the day at $ 1,950 a troy ounce. #FX##UnemploymentRate##US#
Reprinted from Fxstreet , the copyrights all reserved by the original author.
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