The Dollar Index Closed in the Negative Zone

Investors took a waitandsee position before the Fed twoday meeting, which will start today. It is expected that the Federal Reserve will raise the key interest rate by 25 points to 1.75%. However, despite expectations, the US dollar weakened against the major currencies yesterday. The US dollar index (#DX) fell significantly (0.82%).

The pound sterling strengthened after the press conference on the negotiation results between the UK and the EU, that made significant progress on the issue of the country exit from the union. Both sides came to an agreement concerning the rights of citizens and the UK’s financial obligations fulfillment to the European Union. The issue on the situation of Ireland remained unresolved. On Thursday, the European Union summit will start, at which issues of the Brexit transition period will be discussed.

At the moment, the “black gold” prices are recovering. Futures for the WTI crude oil are being traded near $62.65 per barrel. At 22:30 (GMT+2:00), a report on the API weekly crude oil stock will be published.

Market Indicators

Yesterday, there were aggressive sales in the US stock market: #SPY (1.35%), #DIA (1.28%), #QQQ (2.29%).

At the moment, the 10year US government bonds yield is at the level of 2.852.86%.

The consumer price index in the UK at 11:30 (GMT+2:00);ZEW economic sentiment index at 12:00 (GMT+2:00);The volume of wholesale sales in Canada at 14:30 (GMT+2:00).

by JustMarkets, 2018.03.20