COVID-19 Epidemic Continues to Put Pressure on Financial Markets

The greenback shows a variety of trends against the basket of currency majors. The US dollar index (#DX) is testing local lows. On Friday, the United States released weak data on core producer price index (PPI), which fell by 0.3% in June, while experts forecasted an increase by 0.1%.

Financial markets are still under pressure due to an increase in the number of COVID19 cases. The number of infected has almost reached 13 million people around the world, 3.3 million of which are in the United States. In Florida, on Sunday, a record daily increase in patients was reported: more than 15 thousand new cases. At the same time, the American biopharmaceutical company Gilead Sciences reported that remdesivir could reduce the risk of death by 62% in seriously sick COVID19 patients.

The “black gold” prices are consolidating. Currently, futures for the WTI crude oil are testing the $40.00 mark per barrel.

Market indicators

On Friday, there was the bullish sentiment in the US stock market: #SPY (+1.02%), #DIA (+1.39%), #QQQ (+0.68%).

The 10year US government bonds yield is growing. At the moment, the indicator is at the level of 0.650.66%.

• The important news is not expected to be published. We recommend paying attention to the speech by the Governor of the Bank of England Bailey.

by JustMarkets, 2020.07.13