The improvement in Denmark’s unemployment rate

The pair will continue to move lower in the following days towards its September 2017 low. The improvement in Denmark’s unemployment rate will send the greenback to the $6.10 price level. Denmark posted a 5.1% unemployment rate in yesterday’s report which indicates the potential recovery of the country in the coming months. This positive data further made the US reports bleaker. Yesterday, the largest economy in the world posted two (2) important data that measures the country’s overall economic health. The second-quarter gross domestic product (GDP) QoQ report posted a 32.9% decline, the highest dropped in quarterly growth for almost a century. In addition to this, its initial jobless claims report added a bigger number of claimants at 1,434K. The plan to inject another $1 trillion stimuli to the local economy will not help either. The $6 trillion approved stimulus for COVID-19 has sent the US dollar to its lowest level in years.