Forex Today: Fears ease, dollar keeps running

FXStreet Team FXStreet

Here is what you need to know on Thursday, February 20th:

Chinese authorities reported that the pace of contagion outside the Hubei province has slowed, leading to a better market mood. The dollar and gold, both considered safe-haven, retained their strength. China keeps taking measures to support the economy throughout the outbreak.
The EUR/USD pair settled below 1.0800 after reaching 1.0781, a new 2020 low. EU data missed the market’s expectations while US figures were upbeat, again highlighting the economic imbalances.
UK inflation was better than expected but was not enough to keep the Pound afloat. GBP/USD neared 1.2900 on dollar’s strength.
In the Brexit front, the 27 EU member states were unable to agree on the definition of a level playing field, the degree of UK alignment that Brussels will require from London for easy market access.
AUD/USD flirts with multi-year lows ahead of the release of Australian monthly employment data.
Global equities closed in the green, with the S&P and the Nasdaq reaching record highs.
Gold flirted with yearly highs, with spot hitting $1,610.90 a troy ounce. The bright metal holds nearby heading into the Asian session.
Crude oil prices hit their highest in three months. The US has announced its decision to impose new sanctions on Venezuela by blacklisting a subsidiary of Russian state oil major Rosneft, spurring concerns about a shrinking offer.
Cryptocurrencies hold on to Tuesday’s gains, BTC/USD consolidating around 10,100.

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FXStreet Team

FXStreet

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