The British Pound Is Increasing. The Dollar Index Moved away from Annual Highs

The US dollar reached the annual high yesterday, but then started declining after the publication of a weak Philadelphia Fed manufacturing index. In June, a value counted to 19.9, while investors expected a value of 28.9. The US dollar index (#DX) closed in the negative zone (0.19%). In general, demand for the US currency is still high.

The British pound has been increasing after the Bank of England left the interest rate unchanged at 0.50%, as experts expected. However, the Bank of England chief economist voted for interest rate rise, which means that in August the interest rate can still be increased. Today, the publication of reports on retail sales and inflation in Canada will be the key event.

The “black gold” prices are recovering. At the moment, futures for the WTI crude oil are testing a mark of $66.25 per barrel. We recommend paying attention to the statistics on the Baker Hughes oil rig count at 20:00 (GMT+3:00).

Market Indicators

Yesterday, sales were observed in the US stock market: #SPY (0.63%), #DIA (0.80%), #QQQ (0.87%).

At the moment, the 10year US government bonds yield is at the level of 2.902.91%.

The index of economic activity in the manufacturing sector in Germany at 10:30 (GMT+3:00);A number of economic activity indices in the Eurozone at 11:00 (GMT+3:00);Reports on inflation and retail sales in Canada at 15:30 (GMT+3:00).

by JustMarkets, 2018.06.22