Economic Reports Supported the US Currency

Yesterday, the US dollar continued to recover against the major currencies. The dollar index (#DX) closed the trading session in the positive zone (+0.72%). Support was provided by positive statistics from the USA. According to the ADP, in August, 237,000 jobs were created in the non-agricultural sector of the country, which is well above the projected level of 183,000. The US GDP growth in the second quarter was revised from 2.6% to 3.0%. The probability of an increase in the Fed interest rate in December this year increased to 40.6%.

In the Asian trading session, China published optimistic data on the index of business activity in the manufacturing sector of the country. In August, the indicator increased from 51.4 to 51.7. Market expectations were at the level of 51.3.

The US Energy Information Administration reported that crude oil inventories declined by 5.392 million barrels per week, which ended on August 25. Nevertheless, prices for “black gold” continue to show negative dynamics. The aftermath of Hurricane Harvey creates disruptions in the work of the US oil refining sector.

Market Indicators

The bullish sentiment prevails on the US stock market. Yesterday the main indices closed again in the positive zone: #SPY (+0.47%), #DIA (+0.16%), #QQQ (+1.18%).

At the moment, the 10-year US government bonds yield is at the level of 2.14-2.15%.

The news background on 2017.08.31: