USD Strong as Virus Cases Increase

As COVID-19 cases continue to grow, the dollar takes a strong position, with its index having gone up 0.1%.

Thursday’s data releases have proven positive for the greenback, as the market saw another small drop in initial jobless claims and a positive rise in durable goods orders. Nevertheless, the news of the record number of new coronavirus cases throughout the US remain a major issue on the agenda.

“There is a growing concern that new restrictive measures will be deployed. In turn, while we maintain a positive medium-term view on risk assets, it will mostly be about infection numbers that drives sentiment in the short-term,” ING comments.

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