Demand for the US Currency Is Still High

On Friday, September 7, the US dollar strengthened against currency majors. The dollar index (#DX) closed the trading session in the positive zone (+0.36%). The US published a positive report on the labor market for August. In the nonfarm sector of the country, 201,000 of new jobs were created, which is higher than market expectations of 191,000. The growth in the average hourly earnings (m/m) counted to 0.4%. Experts forecasted the indicator at 0.3%. The unemployment rate remained at the same level of 3.9%. At the moment, more than 95% of financial market participants believe that the Fed will raise the range of the key interest rate to 2.00%2.25% at the meeting on September 26.

During the Asian trading session, Japan has published optimistic GDP data. In the second quarter, the country’s economic growth counted to 3.0% (year on year), which is higher than market expectations of 2.6%. Investors expect important statistics from the UK. We recommend monitoring current information regarding the trade conflict between the US and China, as well as Brexit.

Oil quotes have started growing. At the moment, futures for the WTI crude oil are testing a mark of $68.25 per barrel.

Market Indicators

On Friday, the major US stock indices closed in the negative zone: #SPY (0.19%), #DIA (0.29%), #QQQ (0.39%).

At the moment, the 10year US government bonds yield is at the level of 2.932.94%.

Statistics on the UK GDP at 11:30 (GMT+3:00);Manufacturing production in the UK at 11:30 (GMT+3:00).

by JustMarkets, 2018.09.10