Demand for the US Dollar Has Resumed

The US currency began to recover against the weakening of fears about the possible beginning of a trade war between the US and China. Demand for the dollar resumed. The US dollar index (#DX) closed in the positive zone (+0.41%) yesterday. Also, according to the Eurostat statistics, the US remains the EU’s largest trading partner.

However, yesterday the CB consumer confidence index was published in the US, which did not meet investors’ expectations. The indicator counted to 127.7, while experts forecasted a value of 131.0. Yesterday, the former Japanese finance minister told the parliament that the Prime Minister Shinzo Abe had no relation to the forgery of the land deal documents, that was at the center of the scandal. But this fact didn’t affect the yen rate.

The “black gold” prices are decreasing against the growth of weekly raw materials stocks in the US according to the API. At the moment, futures for the WTI crude oil are testing a mark of $64.65 per barrel. At 17:30 (GMT+3) a report on the US crude oil inventories will be published.

Market Indicators

Yesterday, there were aggressive sales in the US stock market: #SPY (1.70%), #DIA (1.46%), #QQQ (3.24%).

At the moment, the 10year US government bonds yield is at the level of 2.782.79%.

US GDP data at 15:30 (GMT+3);Pending home sales at 17:00 (GMT+3).

by JustMarkets, 2018.03.28