Feb 12, 2020
Forex Today: Eur kept weakening despite better market mood
Here is what you need to know on Thursday, February 13th:
- The dollar traded mixed, down against commodity-linked currencies but up against safe-haven assets. The EUR was once again the laggard, falling against its American rival to levels that were last seen in May 2017.
- The European Parliament agreed that any deal with the UK must respect a “level playing field” by updating its rules to equal those of the Union. UK PM Johnson has ruled out the EU’s proposed “dynamic alignment” of EU-UK laws. GBP/USD advanced for a third consecutive day but held below 1.3000.
- The coronavirus outbreak seems contained within China. The WHO reported that the number of cases has stabilised, although that the apparent slowdown in the epidemic spread should be viewed with "extreme caution."
- Hopes prevailed, leading tom substantial gains in global equities. Wall Street flirts with record highs at the end of the day.
- Crude oil prices were higher amid easing concerns about the potential negative impact of the coronavirus outbreak on the global oil demand. The commodity lost its bullish momentum after the EIA reported that US crude stockpiles were up by 7.5 million in the week ending Feb 7.
- Cryptocurrencies remained in positive ground although with uneven results. BTC/USD holding around 10,350.00.