The US Dollar Is Stable. The Attention Is Focused on the Tax Reform

Yesterday’s trading on majors was quite active. The dollar index (#DX) closed in the negative zone. At the same time, the fall in the US currency was moderate. Support was provided by quite optimistic statistics on the real estate market in the US. In November, the number of construction permits issued dropped by 1.4% to 1.298 million. Experts expected the decline to 1.273 million. The volume of construction of new homes increased by 3.3% to 1.297 million. Market expectations were at the level of 1.250 million.

At the moment, the US currency has stabilized. Investors are monitoring the implementation of the tax reform in the United States. The US Senate approved the bill draft. Today, the House of Representatives will hold a second vote. This week, the document can be sent for signature to the US President Donald Trump. Today, we recommend paying attention to the economic reports and the dynamics of the US government bonds yield.

Prices for “black gold” show a positive trend. At the moment, futures for the WTI crude oil are testing a mark of $57.75 per barrel. Participants of the financial markets expect a report on crude oil inventories in the US at 17:30 (GMT+2:00).

Market Indicators

Yesterday the bearish sentiment prevailed on the US stock market. The main indices closed the trading session in the negative zone: #SPY (0.38%), #DIA (0.16%), #QQQ (0.59%).

The 10year US government bonds yield has grown significantly. At the moment, the indicator is at the level of 2.462.47%.

The volume of wholesale sales in Canada at 15:30 (GMT+2:00);Sales in the secondary housing market in the US at 17:00 (GMT+2:00);The GDP of New Zealand at 23:45 (GMT+2:00).

We also recommend you to pay attention to the speech of the head of the Bank of England.

by JustMarkets, 2017.12.20