The US Dollar Index Has Been Declining

The US dollar weakened against a basket of major currencies after the publication of the FOMC minutes. According to the minutes of the December Fed meeting, some officials support the idea of keeping rates unchanged in 2019. The dollar index (#DX) closed yesterday in the negative zone (0.72%).

Yesterday, the Bank of Canada published its decision on a key interest rate, according to which the indicator remained unchanged at 1.75%, as investors expected. Today, during the Asian trading session weak economic data have been published in China. Thus, the consumer price index counted to 1.9% (y/y) in December, although experts expected 2.1% (y/y). The producer price index also fell to 0.9% (y/y) in December instead of 1.6% (y/y). Today, we expect important economic statistics from the Eurozone and the United States.

The “black gold” prices are consolidating after rapid growth during yesterday’s trading. Oil quotes prices have increased by more than 5%. At the moment, futures for the WTI crude oil are testing $51.65 per barrel.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.47%), #DIA (+0.42%), #QQQ (+0.81%).

The 10year US government bonds yield is falling. Currently, the indicator is at the level of 2.682.69%.

ECB monetary policy meeting accounts at 14:30 (GMT+2:00).

We also recommend paying attention to the statistics on the real estate market in the US and the speech by Fed Chairman Powell.

by JustMarkets, 2019.01.09