The US Dollar Has Begun to Strengthen. We Are Waiting for Important Statistics

Yesterday, the US dollar strengthened against other major currencies. The reason for this was the publication of the minutes of the Fed’s meeting in December and positive data on the index of business activity in the manufacturing sector of the US from ISM. The minutes showed that officials expect that the tax cut for companies and individuals will lead to an increase in consumer and corporate expenses. The Fed raised its real GDP growth forecasts in 2018 to 2.5%. Today, the US dollar index (#DX) rose by 0.11%.

During the Asian trading session, the US currency rose in price relative to the yen, the Australian dollar strengthened due to the growth of the business activity index in the service sector from Caixin in China. The British pound fell slightly after the release of data that the growth in business activity in the construction sector in the UK slowed. Today important data from the Eurozone, the United Kingdom and the United States is expected.

The “black gold” prices continued to grow. Futures for the WTI crude oil rose by 0.8%. At the moment, quotes are testing the mark of $62.20 per barrel. We recommend you to pay attention to the data on crude oil inventories, which will be published today at 18:00 (GMT+2:00).

Market Indicators

Yesterday, the major US stock indices closed in the positive zone: #SPY (+0.63%), #DIA (+0.37%), #QQQ (+0.97%).

At the moment, the 10year US government bonds yield is at the level of 2.46%.

The index of business activity in the services sector in Germany at 10:55 (GMT+2:00);The index of business activity in the services sector in the Eurozone at 11:00 (GMT+2:00);The index of business activity in the services sector in the UK at 11:30 (GMT+2:00);Change in the number of people employed in the nonagricultural sector in the US at 15:15 (GMT+2:00);The number of initial jobless claims in the US at 15:30 (GMT+2:00);Raw material price index in Canada at 15:30 (GMT+2:00);The index of business activity in the US at 16:45 (GMT+2:00);Crude oil inventories in the US at 18:00 (GMT+2:00).

by JustMarkets, 2018.01.04