Demand for the US Currency Has Resumed

Last week, trades on major currencies were very active. However, a unidirectional trend was not observed. The dollar index (#DX) closed the trading week with a slight decrease. The Fed raised its key interest rate by 25 basis points to 1.50%. The regulator remains concerned about low inflation in the US. The National Bank of Switzerland, the Bank of England and the ECB, as expected, left interest rates at the same level.

At the moment, the demand for the US currency has resumed. Support is provided by the possible implementation of tax reform in the United States. On Friday, December 15, Republican leaders in the Senate and House of Representatives of the US Congress agreed on the final version of the bill draft. The US President Donald Trump may sign the document before the end of this week. Today the attention of participants of financial markets will be directed to statistics on the economy of the Eurozone.

Prices for “black gold” show a positive trend. According to Baker Hughes company data, the number of drilling rigs in the US fell to 747 units. At the moment, futures for the WTI crude oil are testing a mark of $57.75 per barrel.

Market Indicators

The major US stock indices closed in the positive zone: #SPY (0.32%), #DIA (0.28%) and #QQQ (+1.14%).

The 10year US government bonds yield is testing local highs. At the moment the indicator is at the level of 2.372.38%.

At 12:00 (GMT+2:00), the report on inflation in the Eurozone will be published.

by JustMarkets, 2017.12.18