The US dollar rose against the basket of major currencies during yesterday’s trading. The US dollar index (#DX) updated the weekly high and closed in the positive zone (+0.60%). Yesterday, the producer price index was published in the US, which counted to 0.0% in July and was worse than the forecasted value of 0.2%. However, this did not prevent the dollar from strengthening. Trade relations between the United States and its partners are still in the focus of attention. Today, the US dollar rally has continued.
During the Asian trading session, data on Japan GDP have been published. So, GDP growth counted to 0.5% in the second quarter and was better than the forecasted value of 0.3%. Financial market participants expect data on the UK GDP. We also recommend paying attention to economic statistics from the US and Canada.
The “black gold” prices are consolidating. At the moment, futures for the WTI crude oil are testing a mark of $66.60 per barrel.
Yesterday, the bearish sentiment was observed in the US stock market: #SPY (-0.14%), #DIA (-0.18%), #QQQ (-0.06%).
Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
At the moment, the 10-year US government bonds yield is at the level of 2.89%-2.90%.
– Data on the UK GDP at 11:30 (GMT+3:00);
– Manufacturing production in the UK at 11:30 (GMT+3:00);
– Core consumer price index in the US at 15:30 (GMT+3:00);
– Report on the labor market in Canada at 15:30 (GMT+3:00).