The US Dollar Is Consolidating

July 16, 2019

by JustForex

The US dollar is changing slightly against a basket of major currencies. The US dollar index (#DX) closed trading session with a slight increase (+ 0.13%) yesterday. Trading activity and volatility in the foreign exchange market declined as investors focused on the publication of economic releases, which may signal further adjustments in interest rates of global Central Banks. Today, financial market participants will assess important statistics from the UK, Germany and the US.

During the Asian trading session, the New Zealand consumer price index has been published, which has met market expectations and counted to 0.6% (q/q). The British pound is still under pressure due to the uncertainty concerning Brexit. The main contenders for the post of leader of the Conservative Party, Boris Johnson and Jeremy Hunt, claimed that they were ready to the no-deal Brexit.

The “black gold” prices are stable. At the moment, futures for the WTI crude oil are testing $59.85 per barrel. At 23:30 (GMT+3:00) API weekly crude oil stock will be published.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock markets: #SPY (+0.03%), #DIA (+0.08%), #QQQ (+0.32%).

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The 10-year US government bonds yield fell slightly. Currently, the indicator is at the level of 2.08-2.09%.

The News Feed on 2019.07.16:

– Data on the UK labor market at 11:30 (GMT+3:00);
– German ZEW economic sentiment at 12:00 (GMT+3:00);
– Statistics on retail sales in the US at 15:30 (GMT+3:00).

We also recommend paying attention to the speeches by the Governor of the Bank of England and FOMC representatives.

by JustForex