The US currency weakened against a basket of major currencies. The US dollar index (#DX) closed in the negative zone (-0.18%). Yesterday, the US producer price index was published, which counted to 0.2% in September, as investors expected.
Today, investors will assess a report on inflation in the United States, which may affect the Fed’s views on further interest rate raising, as well as the dynamics of currency majors in the short term.
The British pound strengthened against the US dollar in the hope that the UK and the EU would soon conclude an agreement on Brexit. Weak economic data from the UK did not prevent the growth of the pound. Thus, the UK GDP counted to 0.0% and was worse than the forecasted value of 0.1%. The volume of production in the UK manufacturing industry fell by -0.2% in August, while investors expected a growth of 0.1%.
The “black gold” prices have been declining. At the moment, futures for the WTI crude oil are testing a mark of $72.20 per barrel. At 18:00 (GMT+3:00) a report on the US crude oil inventories will be published.
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Yesterday, aggressive sales were observed in the US stock market: #SPY (-3.17%), #DIA (-3.09%), #QQQ (-4.40%).
The 10-year US government bonds yield moved away from local highs. At the moment, the indicator is at the level of 3.16-3.17%.
– Publication of the ECB account of monetary policy meeting at 14:30 (GMT+3:00);
– Report on inflation in the US at 15:30 (GMT+3:00).