Yesterday the USD strengthened against the basket of major currencies. The USD index (#DX) updated the local maximums and closed in the green (+0.68%). The demand for the risky assets noticably decreased. The financial market participants are worried about the slowdown of the world economy growth and trading conflicts between the US and China. Additional pressure comes from the aggressive sell-offs on the stock market.
An sudden drop in the prices of oil hit the raw resource currencies hard. During the yesterday’s trading, the CAD weakened against the USD by more than 1%. AUD and NZD also demonstrated a negative trend. The US published some ambiguous reports regarding the retail market. Investors keep evaluating the Brexit conundrum.
Price on oil started to recover after a sharp drop. At the moment the WTI futures are testing the 54.40 USD/barrel mark. We recommend you keep an eye on the reports on the reserves of crude oil in the US at 17:30 (GMT+2:00).
The US stock market closed in the red again: #SPY (-1,85%), #DIA (-2,15%), #QQQ (-1,79%).
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
The 10-year US government bonds yield started to recover. At the moment it is at 3,07-3,08%.
- – Core Durable Goods Orders (US) – 15:30 (GMT+2:00);
- – Wholesale Reports (CAD) – 15:30 (GMT+2:00);
- – Secondary Real Estate Reports (US) – 17:00 (GMT+2:00).