WATCH: Forex Weekly Review – February 10, 2020

Alan Penny

10 February 2020

1 min read

Forex news and forecast

Global equity markets

Welcome to this week’s market roundup brought to you by Top Rated Forex Brokers.

Global equity markets ended higher last week, as measures taken by China to provide support to the economy suffering from the coronavirus outbreak lifted investor sentiment.

In the US, markets closed higher after China announced it would reduce tariffs on some of its US imports, as part of its phase-one trade resolution.

The Dow Jones Industrial Average gained 3%, while the tech-heavy Nasdaq rose around 4.5%.

Currencies & commodities

On the currencies side, the USD ended mostly higher against its peers, after the US private sector employment recorded its largest increase since May 2015 in January.

Gold prices fell last week as a stronger dollar and gains in the global equity markets dented demand for the safe-haven commodity.

Cryptocurrencies had another stellar week, with large gains seen across the board.

Bitcoin has broken above the psychological 10,000-dollar mark for the first time this year, as investors continue to pour money into digital currencies, making them the best investment so far in 2020.

That wraps up another weekly market update. See you next time.


Written By
Alan Penny

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