There Is a Variety of Trends on Currency Majors. Investors Expect Data on the US Labor Market

August 7, 2020

by JustForex

The US dollar has become stable against a basket of currency majors. The US dollar index (#DX) closed yesterday’s trading session with a slight decline (-0.09%). Traders monitor the talks in Washington on new measures to stimulate the American economy. On Wednesday, Democrats and Republicans couldn’t reach a deal on a new package of measures. US Secretary of the Treasury, Steven Mnuchin, said that Republicans and Democrats were “still far away” on the key issues of implementing additional measures. According to White House Chief of Staff, Mark Meadows, if Congress does not reach an agreement, then US President Donald Trump can independently extend the unemployment premiums. Investors also expect the publication of reports on the US labor market today, which may significantly affect market sentiment.

Yesterday, the Bank of England kept its key interest rate unchanged at 0.1%. The regulator also left the volume of the government bond-buying program at 745 billion pounds. The central bank notes that the outlook for the UK and global economies remains uncertain. Further assumptions regarding the growth or decline of economies will depend on the situation with the COVID-19 pandemic.

The “black gold” prices are declining. At the moment, futures for the WTI crude oil are testing the $41.55 mark per barrel. At 17:30 (GMT+3:00), US crude oil inventories will be published.

Market indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+0.67%), #DIA (+0.70%), #QQQ (+1.32%).


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The 10-year US government bonds yield is consolidating. At the moment, the indicator is at the level of 0.52-0.53%.

The news feed for 2020.08.07:
  • – Data on the US labor market at 15:30 (GMT+3:00);
  • – Statistics on the labor market in Canada at 15:30 (GMT+3:00);
  • – Ivey PMI in Canada at 17:00 (GMT+3:00).

by JustForex