The US Currency Is Strengthening Against the Basket of Major Currencies

Yesterday, the US dollar continued to strengthen relative to the basket of major currencies against the 10year US government bonds yield growth. Also, the US currency was supported after the release of a strong report on existing home sales, which counted to 5.60 million instead of the forecasted value of 5.55 million. The US dollar index (#DX) closed in the positive zone (+0.68%).

Geopolitical risks weakening also supports the US dollar. On weekends, North Korea announced the suspension of nuclear and missile tests before the planned talks between South Korea and the United States. Tensions between the US and China also subsided. The US Treasury Secretary Steven Mnuchin said that he intended to discuss trade agreements with China.

The “black gold” prices have resumed growth. At the moment, futures for the WTI crude oil are testing a mark of $69.20 per barrel. At 23:30 (GMT+3:00), a report on the API weekly crude oil stock will be published.

Market Indicators

Yesterday, the bearish sentiment was observed in the US stock market: #SPY (0.01%), #DIA (0.05%), #QQQ (0.25%).

At the moment, the 10year government bonds yield is at the level of 2.962.97%.

IFO business climate index in Germany at 11:00 (GMT+3:00);CB consumer confidence index in the US at 17:00 (GMT+3:00);New home sales in the US at 17:00 (GMT+3:00).

by JustMarkets, 2018.04.24