- European session review: USD continues strengthening, supported by high demand for funding
Market news
19 March 2020
European session review: USD continues strengthening, supported by high demand for funding
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 09:00 | Germany | IFO - Expectations | March | 93.4 | 82 | |
| 09:00 | Germany | IFO - Business Climate | March | 96.1 | 87.7 | |
| 09:00 | Germany | IFO - Current Assessment | March | 98.9 | 93.8 | |
| 10:00 | Eurozone | Construction Output, y/y | January | -2.3% | 6% | |
| 12:30 | U.S. | Continuing Jobless Claims | March | 1699 | 1725 | 1701 |
| 12:30 | U.S. | Philadelphia Fed Manufacturing Survey | March | 36.7 | 10 | |
| 12:30 | Canada | New Housing Price Index, MoM | February | 0% | 0.1% | |
| 12:30 | U.S. | Current account, bln | Quarter IV | -125.4 | -109 | -109.8 |
| 12:30 | U.S. | Initial Jobless Claims | March | 211 | 220 | 281 |
| 12:30 | Canada | New Housing Price Index, YoY | February | 0.2% |
USD continued strengthening against other major currencies in the European session on Thursday as funding concerns preserved despite huge dollar injections from the central banks of the world in response to the coronavirus outbreak.
The U.S. currency remains the favored currency across the board amid mounting uncertainty caused by the coronavirus outbreak, which threatens to hit the global economy.
The U.S. Dollar Index (DXY), measuring the value of USD against a basket of foreign currencies, rose 1.17% to 102.35, its highest level since late 2016.
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