U.S dollar edged higher against a basket of six major currencies ending four consecutive days of losses to settle at 93.91 supported by economic data from the U.S, and currently trading flat as investors waited for news on the health of U.S. President Donald Trump after testing positive for the coronavirus, sending markets into safe-haven assets.
The U.S president was flown to a hospital for treatment for the coronavirus on Friday, adding uncertainty and volatility to the market.
Doctors treating Trump for COVID-19 told reporters on Sunday they are monitoring the condition of his lungs after he received supplemental oxygen, hours before Trump surprised supporters outside the hospital by riding past in a motorcade.
the Non-Farm payroll report and the Unemployment data for September were released on Friday Non-farm payroll figure landed at 661,000 and the unemployment rate came at 7.9 percent better than expectations of 8.2 percent.
Expectations show that U.S. Congress will pass a stimulus package to support the pandemic weakened economy the U.S. House Speaker Nancy Pelosi said on Sunday that progress was being made on coronavirus relief legislation but had earlier flagged key areas of disagreement.
Over in Europe, the Common currency traded Lower on Friday against the Greenback to settle at 1.1715 EURUSD. Investors are watching with concern as coronavirus infection rates climb in Europe.
Madrid will become the first European capital to go back into lockdown in the coming days to fight a steep surge in cases.
Furthermore, The Great British Pound was higher versus its counterpart, the U.S. Dollar, to settled at 1.2941.
Traders awaited cues from the final round of Brexit trade talks as the expiry of the transition period at the end of December approached.
Boris Johnson the British Prime Minister and the head of the EU's executive, Ursula von der Leyen, agreed in a phone call on Saturday to step up negotiations on a post-Brexit deal.
Johnson stated while he does not want the transition period to end without a new trade deal, he believes that Britain could live with such an outcome.
Regarding Safe-Haven assets, the Japanese Yen was higher against the Greenback to end the session at 105.29 USDJPY.
On the other hand, the Swiss franc rose against the U.S dollar to settle at 0.9202 USDCHF.
The Precious Metal ended Friday’s trading session lower, The Gold finished the session at 1897.
Elsewhere in Canada, the Lonnie which is a commodity-sensitive currency traded lower on Friday’s session. The USDCAD ended the session at 1.3306.
The Aussie Dollar finished the session lower; the Aussie Dollar finished the trading session at 0.7160.
Cryptocurrencies fell on Friday’s session, with Bitcoin ending the session lower at 10527 BTCUSD. Moreover, Litecoin and Ethereum ended the session at 42.48 LTCUSD and 349 ETHUSD, respectively.
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