The US Dollar Is in the Positive Zone. Coronavirus Is Still in the Spotlight

During Friday's trading session, the US dollar strengthened against a basket of major currencies. The dollar index (#DX) closed in the green zone (+0.19%). The United States published rather optimistic labor market statistics for January. Thus, the number of people employed in the nonfarm sector grew by 225K, while experts forecasted an increase by 160K. The growth in average hourly earnings accelerated from 0.1% to 0.2%. At the same time, the indicator was worse than the forecasted value of 0.3%. The unemployment rate rose from 3.5% to 3.6%.

The Chinese yuan has strengthened amid the publication of optimistic economic data during the Asian trading session. Thus, the Consumer Price Index (CPI) (YoY) grew in January by 5.4%, while experts forecasted an increase by 4.9%. The situation with coronavirus is still in the spotlight. Chinese workers returned to offices and factories across the country after long vacations.

The "black gold" prices continue to show negative dynamics. Currently, futures for the WTI crude oil are testing the $49.90 mark per barrel.

Market Indicators

On Friday, there was the bearish sentiment in the US stock market: #SPY (-0.53%), #DIA (-0.87%), #QQQ (-0.43%).

The 10-year US government bonds declined. At the moment, the indicator is at the level of 1.56-1.57%.

The Economic News Feed for 10.02.2020:
  • Today, the publication of important economic news is not expected.

by JustForex, 2020.02.10

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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