The Euro Reached a Three-Year High

The US dollar continued to fall against the major currencies. The American currency was under pressure due to the US Treasury Secretary Steven Mnuchin statement, that the dollar weakening has a positive impact on the US economy, as it improves the terms of foreign trade. The US dollar index (#DX) fell by 1%. Another reason for the decrease of the US currency was the fear that a trade war could begin between the US and China soon.

The euro reached its threeyear high against the US dollar before the European Central Bank’s monetary policy decision. Today, there will be the ECB meeting, which will determine the future of the euro and the US currency. We recommend you to pay attention to the comments of the ECB head Mario Draghi.

The “black gold” prices are growing after the release of data on the stocks reduction in the USA. At the moment, futures for the WTI crude oil are testing a mark of $66.2 per barrel.

Market Indicators

Yesterday, the main indices demonstrated a variety of trends: #SPY (0.04%), #DIA (+ 0.27%), #QQQ (0.65%).

The 10year US government bonds yield is at the level of 2.632.65%.

German IFO business climate index at 11:00 (GMT+2:00);ECB interest rate decision at 14:45 (GMT+2:00);Initial jobless claims in the US at 15:30 (GMT+2:00);Retail sales statistics in Canada at 15:30 (GMT+2:00);New home sales in the US at 17:00 (GMT+2:00).

by JustMarkets, 2018.01.25