Euro rises for second straight day
Euro rose on Thursday against the dollar for another session as sentiment improves in the markets with some US stimulus approved to counter Covid impact.
EUR/USD rose 0.2% to 1.1781, after closing 0. 2% yesterday on spreading risk aversion.
The dollar index fell 0.1% on Thursday for another session against a basket of major rivals.
The decline came as haven demand declines on the dollar as sentiment improves and investors prefer higher risk currencies.
The bullish sentiment came after the US launched some new financial stimulus to counter the impact of the Covid 19 pandemic.
At 12:30 GMT, the US economy released it reading for the average hourly earnings for September, which rose by 0.1%, missing forecasts of a rise by 0.5%, and lower than the previous reading of 0.3% after it was revised from 0.4%. This data is considered negative for the US economy
At 12:30 GMT, the US economy released it reading for the the unemployment rate for September at 7.9%, better than forecasts of 8.2%, and better the previous reading of 8.4%. This data is positive for the US economy.
At 12:30 GMT, the US economy released its reading for the non-farm employment change index, as the economy added 0.661 million jobs in September, lower than forecasts of 0.900 million jobs, and lower than the previous reading that was revised to 1.489 million from 1.371 million jobs. This data is negative for the US economy