The US dollar weakened against a basket of major currencies after statements by Fed Chairman Jerome Powell. The official said that the US Central Bank would closely monitor the development of the country’s economic situation in the new year and adjust monetary policy by economic statistics. The dollar index (#DX) closed yesterday in the negative zone (-0.51%).
Weak economic reports put additional pressure on the US currency. Thus, the US ISM non-manufacturing PMI counted to 57.6 in December, while experts expected 59.6. Also, two-day negotiations between the US and China have started, which has led to an increase in demand for safe assets. Investors hope that countries will be able to resolve the trade conflict and conclude an agreement.
The “black gold” prices are moderately growing. At the moment, futures for the WTI crude oil are testing the mark of $48.60 a barrel. At 23:30 (GMT+2:00), a report on the API weekly crude oil stock will be published.
Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.79%), #DIA (+0.46%), #QQQ (+1.10%).
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The 10-year US government bonds yield is recovering. Currently, the indicator is at the level of 2.69-2.70%.
– Statistics on the trade balance in the US at 15:30 (GMT+2:00);
– JOLTS job openings in the US at 17:00 (GMT+2:00).