The US Dollar Has Strengthened. Investors Expect Additional Drivers

Yesterday’s trading on the majors was very active. The US dollar continued to strengthen relative to the leading currencies. The dollar index (#DX) closed the trading session in the positive zone (+0.40%). Support was provided by positive economic reports. In November, the consumer confidence index rose by 2.6% to 129.5. Experts expected the drop to 124.0. At the same time, the growth of the US currency was calm because of the tension on the Korean peninsula.

At the moment the bullish sentiment is prevailing on GBP/USD. There was information that in the near future, the EU and the UK could reach agreement on the number of payments in the Brexit process. Today, the key event will be the publication of preliminary data on the US GDP for the third quarter.

From the beginning of this week, the “black gold” prices show a negative trend. The American Petroleum Institute said that crude oil inventories rose by 1.8 million barrels over the past week. Analysts had expected a decline of 2.5 million barrels. At the moment, futures for WTI crude oil are testing a mark of $ 57.75 per barrel.

Market Indicators

Yesterday, the US stock market saw aggressive purchases. Support was provided by the financial sector. The growth of the #SPY quotes (SPDR S&P 500 ETF) exceeded 1%.

The 10year US government bonds yield continues to consolidate. At the moment the indicator is at the level of 2.332.34%.

The GDP statistics at 15:30 (GMT+2:00);The index of pending sales in the real estate market at 17:00 (GMT+2:00);Crude oil inventories at 17:30 (GMT+2:00);The Fed’s “Beige Book” at 21:00 (GMT+2:00).

We also recommend you to pay attention to the speeches of the Fed’s Chairman of and the head of the Bank of England.

by JustMarkets, 2017.11.29