Dollar advances after robust US growth data

Economies.com
2020-10-29 18:24PM UTC

The US dollar surged against most of its major rivals on Thursday, after the release of upbeat US economic data.

 

The US Department of Labor reported today that the unemployment claims fell 40,000 to 751,000 during the past week.

 

The advanced reading for the US GDP showed growth by 33.1% during the third quarter.

 

Major tech companies such as Apple, Google, and Facebook will report later today their business results for the third quarter.

 

Otherwise, the rising number of Covid-19 infections in the US and other countries, especially in Europe, has forced some governments to re-impose lockdown restrictions to curb the deadly pandemic.

 

The dollar index rose against a basket of currencies by 0.7% to 94.03 points as of 19:13 GMT, after it hit a high of 94.1 and a low of 93.3.

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

USD CHF Analysis

Forex

The USDCHF price faces temporary negative pressure – Forecast today - 29-03-2024
2024-03-29 01:48AM UTC
USDCHF Price Analysis Expected Scenario: Bullish Trend The USDCHF pair rebounded bearishly ...
NZD USD Analysis

Forex

The NZDUSD price keeps its negative stability – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
NZDUSD Price Analysis Expected Scenario: Bearish Trend The NZDUSD price remains below the ...
AUD USD Analysis

Forex

The AUDUSD price awaits confirmed break – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
AUDUSD Price Analysis Expected Scenario: Bearish Momentum The AUDUSD price failed to sustain ...