Re: Daily Market Analysis from ForexMart
EUR/USD. February 06, 2020 – Dollar continues to grow
The euro halted its fall in the 1.1000 area after China announced a decision to halve import duties on US goods worth about $75 billion to improve trade relations. At the same time, markets ignore the topic of the further spread of the Chinese virus, despite the continuing increase in cases of the disease.
Yesterday, the dollar showed strong growth after the release of data on business activity in the service sector. ISM's Procurement Managers Index for the US non-manufacturing sector rose from 54.9 to 55.5, while the number of jobs created in the private sector of the US economy increased by 291 thousand in January against expectations for growth of 157 thousand.
Today we expect the dollar to grow to the 1.0980 area.