Dollar Surges After Positive Data | German Factory Orders Falls
Published February 6, 2020
The dollar gained against the basket of currency as risk appetite improved after the strong private-sector job report and positive non-manufacturing PMI. The dollar is expected to remain volatile against the counterparts before the key non-farm payroll report, due on Friday. At the time of writing, the dollar index is trading higher at 98.32 levels.
China announced on Thursday that it will have additional tariffs on $75 billion American products despite the coronavirus outbreak as part of its efforts to implement a recently signed trade agreement with Washington. Asian stocks and wall street futures also rallied after the announcement.
This morning, the euro fell after the disappointing German factory order which suggests Europe’s largest economy has not yet seen the worst of its slowdown. Overall, the factory orders came in at -2.1 percent against the expectation of 0.6 percent.