FxPremiere.com – The dollar pushed higher in early European trading Friday, with the safe haven in demand as risk sentiment takes a hit on the back of turmoil in equity markets.
FX Signals
USD/JPY rose 0.3% at 104.50, GBP/USD fell 0.1% to 1.3708, EUR/USD fell 0.2% to $1.2102, while the risk-sensitive AUD/USD dropped 0.3% at 0.7656.
This volatility in the equity markets has prompted safe-harbor demand for the U.S. currency.
Also helping the greenback was the release of some positive U.S. economic data on Thursday, with the weekly initial jobless claims falling more than expected. Fourth-quarter GDP, meanwhile, slowed sharply but stayed positive, growing at annualized rate of 4.0%. Consumer Sentiment COVID19
By contrast, the euro-zone economy is likely to shrink again in the first quarter given the stringent lockdowns while the vaccination campaign is hardly pulling up trees. Australian Dollar Hits Highest
Austria’s fell 4.3% as the start of winter tourism season fell flat. However, Spain’s GDP defied expectations for a fall by growing 0.4%.
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