Currency Majors Are Consolidating. Investors Assess the Situation Concerning Trade Talks Between the US and China

Currency majors show a variety of trends. The dollar index (#DX) moved away from monthly lows and closed yesterday’s trading session in the green zone (+0.08%). Investors are still focused on resolving trade differences between Washington and Beijing. China wants to conclude a phase one trade agreement with the US in the near future. At the same time, President Xi Jinping said China was not afraid to apply retaliatory measures if necessary. We recommend following current information on this issue.

European Central Bank President, Christine Lagarde, said that the Eurozone economy needs to maintain domestic demand, by increasing government spending in particular. Demand for Loonie has resumed after comments by the Chairman of the Bank of Canada. The official believes that the state of the country’s economy is stable and global risks have little impact. British opposition leader Jeremy Corbyn introduced the Labour manifesto, which outlines radical plans to transform Britain with higher salaries in the public sector, higher taxes on companies and the rapid nationalization of infrastructure.

The “black gold” prices are consolidating after a sharp increase the day before. Currently, futures for the WTI crude oil are testing the $58.40 mark per barrel.

Market Indicators

Yesterday, US stocks closed in the red zone: #SPY (0.16%), #DIA (0.17%), #QQQ (0.22%).

The 10year US government bonds yield has moved away from local highs. At the moment, the indicator is at the level of 1.751.76%

• Statistics on economic activity in Germany and the Eurozone at 10:30 (GMT+2:00) and 11:00 (GMT+2:00), respectively;
• Data on economic activity in the UK at 11:30 (GMT+2:00);
• Report on retail sales in Canada at 15:30 (GMT+2:00).

by JustMarkets, 2019.11.22