The US Dollar Is Falling Against Major Currencies

Yesterday, mixed data on the labor market in the United States was published. As a result, the US currency fell against other major currencies. The US dollar index (#DX) closed the trading session with a slight increase (+0.06%). Yesterday, positive statistics on the economy of the eurozone was published, which contributed to the growth of the EUR/USD quotes. Today, we expect important reports on the US and Canada labor market.

On Thursday, mixed data on the UK economy was also published. Consumer expenditure in the UK declined to the lowest level since 2015. At the same time, business activity in the services sector in the UK increased. The yen and the Australian dollar have fallen in price against the US dollar.

According to the US Department of Energy, commercial crude oil inventories fell by 7.4 million barrel to 424.5 million barrel. At the same time, local production of oil in the US practically recovered, having increased by 28 thousand barrel per day. During the Asian session, futures for the WTI crude oil rose. At the moment, quotes are being traded at $61.80 per barrel. We recommend you to pay attention to the report on the Baker Hughes oil rigs count, which will be published at 20:00 (GMT+2:00).

Market Indicators

Yesterday, the major US stock indices closed in the positive zone: #SPY (+0.42%), #DIA (+0.66%), #QQQ (+0.17%).

The 10year US government bonds yield demonstrates positive dynamics. At the moment the indicator is at the level of 2.46%.

Consumer price index in the Eurozone at 12:00 (GMT+2:00);Reports on the labor market in the US at 15:30 (GMT+2:00);Reports on the labor market in Canada at 15:30 (GMT+2:00);The index of business activity in the nonmanufacturing sector of the US at 17:00 (GMT+2:00);The Ivey Purchasing Managers Index in Canada at 17:00 (GMT+2:00).

by JustMarkets, 2018.01.05