The US Dollar Has Begun to Recoup After the Fall on Friday

On Friday, the US dollar fell against the major currencies due to the publication of weak reports. According to the report on the activity in the nonagricultural sector of the US, 148,000 jobs were created against the forecasted value of 190,000 new jobs. Despite weak reports on the labor market, experts’ forecasts concerning the increase in the Fed interest rate have not changed. The dollar was also under pressure due to forecasts of monetary policy tightening in other countries. By the end of the trading session on Friday, the US dollar began to recoup. Yesterday, the US dollar index (#DX) fell by 0.09%.

During yesterday’s trading, the euro fell against the US dollar. The EUR/USD decreased by 0.45%. The euro fell after a sharp increase, caused by forecasts that this year the European Central Bank will begin to reduce the quantitative easing program. On Friday, positive data on the labor market in Canada was published, as a result the US dollar rate increased.

The “black gold” prices are rising in price. Futures for the WTI crude oil rose during the Asian trading session. Now the quotes are being traded at $62.15$62.25 per barrel. At 23:30 (GMT+2:00) a report on the API weekly crude oil stock will be released.

Market Indicators

Yesterday, the major US stock indices showed mixed results: #SPY (+0.18%), #DIA (0.05%), #QQQ (+0.39%).

The 10year US government bonds yield demonstrates positive dynamics. At the moment the indicator is at the level of 2.49%.

German Trade Balance at 09:00 (GMT+2:00);The unemployment rate in the Eurozone (Nov) at 12:00 (GMT+2:00);The volume of housing starts in Canada at 15:15 (GMT+2:00);Number of open jobs in the JOLTS labor market at 17:00 (GMT+2:00).

Also, we recommend you to pay attention to the speech of the FOMC member Kashkari.

by JustMarkets, 2018.01.09