Forex: The Dollar and the Euro remain in a mode to wait and see before the ECB

By Alex Ho

The japanese yen is rising on Thursday morning, due to low export figures and fears about the mysterious virus in China.

The pair EUR/USD fell 0.01% to 1,1090, traders are awaiting the policy meeting of the European Central Bank (ECB) expected later in the day. The meeting will be followed by a press conference with the president, Christine Lagarde.

The pair USD/JPY has lost 0.2% to 109,58 because of persistent fears about the enlargement of the outbreak of coronavirus, while the authorities have intensified their efforts to contain the virus before the holidays of a week of lunar New Year next week.

The World Health Organization will decide later on Thursday to declare a global health emergency.

On the front of the data, japanese exports have declined from 6.3% in December compared to the previous year, according to data from the ministry of Finance of the country. This figure was well below the expected fall of 4.2%.

The australian dollar rose 0.4% to 0,6873 after a surprise drop in the unemployment rate.

During this time, the dollar index, which tracks the greenback against a basket of other currencies was trading for the last time in 97,285, down 0.01%.

The index rose yesterday, after the National Association of Realtors said that sales of homes pending rose by 3.6% to reach an annual rate of 5.54 million. It is the pace of growth is the highest since February 2018.

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