Investors Expect Additional Drivers

Yesterday, the US dollar weakened against the major currencies. The dollar index (#DX) moved away from local extremes and completed the trading session in the negative zone (0.75%). Participants of the financial markets expect additional information on the implementation of the tax reform in the United States. The US Congress can approve the bill draft this week, which will prove to be a significant support for the US currency. At the moment, the major currencies are consolidating.

The minutes of the meeting of the Reserve Bank of Australia on monetary policy proved to be quite optimistic. The regulator forecasts stable economic growth and positive dynamics in the labor market next year. Today, investors will follow economic reports from Germany and the United States. We also recommend paying attention to the dynamics of the US government bonds yield.

The oil quotes are consolidating. At the moment, futures for the WTI crude oil are being traded in the range of $57.25$57.50 per barrel. Participants of the financial markets are waiting for data on crude oil inventories in the US from the American Petroleum Institute.

Market Indicators

The main US stock indexes again updated historical highs. SPY (SPDR S&P 500 ETF) closed at around $268.20 (+0.63%).

The 10year US government bonds yield shows positive dynamics. At the moment, the indicator is at the level of 2.392.40%.

The IFO business climate index at 11:00 (GMT+2:00);Statistics on the real estate market in the US at 15:30 (GMT+2:00);The trade balance of New Zealand at 23:45 (GMT+2:00).

by JustMarkets, 2017.12.19