The Financial Markets Participants Expect Additional Drivers

Yesterday, the US dollar moved away from local extremes. The dollar index (#DX) closed the trading session in the negative zone (0.25%). This movement was mostly caused by technical factors. Investors’ attention is also focused on the yield of US government bonds. The indicator showed negative dynamics and reached the level of 2.31%. At the same time, demand for the US dollar remains at a fairly high level. In the coming days, we recommend monitoring the latest information on the new chairman of the Federal Reserve System, tax reform in the US and the situation in the Middle East.

The Reserve Bank of Australia, as expected, kept the key interest rate at the previous level of 1.50%. The regulator said that it will closely monitor the real estate market and the level of wages, which at the moment are the problem issues.

The oil quotes continue to show a stable upward trend. Yesterday, futures for the WTI crude oil rose by more than 2%. At the moment, the price is testing the mark of $57.3 per barrel.

Market Indicators

Yesterday, the major US stock indexes again updated historical highs. SPY (SPDR S&P 500 ETF) closed at $258.85 (+0.15%).

At the moment, the 10year US government bonds yield is recovering. The indicator is at the level of 2.322.33%.

At 17:00 (GMT+2:00) there will be data on the number of jobs in the labor market from JOLTS.

We recommend paying attention to the speeches of the ECB, the Bank of Canada and the US Federal Reserve heads.

by JustMarkets, 2017.11.07