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- European session review: USD mixed as investors weigh the timing of COVID-19 treatment rollout amid pandemic's resurgence
European session review: USD mixed as investors weigh the timing of COVID-19 treatment rollout amid pandemic's resurgence
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 08:00 | United Kingdom | BOE Gov Bailey Speaks | ||||
| 09:00 | France | IEA Oil Market Report | ||||
| 09:00 | Eurozone | ECB Economic Bulletin | ||||
| 10:00 | Eurozone | Industrial Production (YoY) | September | -6.7% | -5.8% | -6.8% |
| 10:00 | Eurozone | Industrial production, (MoM) | September | 0.6% | 0.7% | -0.4% |
USD traded mixed against its major rivals in the European session on Thursday as coronavirus infections in the U.S. and Europe surged and investors weighed the timing of COVID-19 treatment rollout. The U.S. currency rose against GBP, CAD, AUD and NZD, but fell against EUR, JPY and CHF.
According to the data from Johns Hopkins University, the U.S. set a fresh record with 143,231 new coronavirus cases on Wednesday. The COVID-19 cases also continue to spike in Europe, with France being the region's coronavirus hot-spot. Overall, the total number of confirmed global coronavirus cases rose to 52,256,150 and deaths grew to 1,286,543.
It is expected that the situation could worsen as winter nears. Meanwhile, the most optimistic projections suggest it will take at least several months to approve, produce and distribute any workable vaccine. Against this backdrop, an effective COVID-19 vaccine is seen unlikely to help avoid a grim winter. Investors also expect the imposition of new restrictions aimed at curbing the coronavirus pandemic, which will halt the global economic recovery.
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