The Dollar Index Moved away from Local Lows

Last week, the US dollar continued to lose ground relative to the major currencies. The fall of the dollar index (#DX) exceeded 1.5%. The US continues to publish mixed economic reports. It should be recalled that the ECB has kept key interest rates at the same level. The regulator noted positive changes in the economy. Donald Trump refuted the words of Steven Mnuchin and said that the US supported a strong dollar. At the moment, the American currency has moved away from the local lows. Additional support is provided by the growth in the US government bonds yield.

The news feed this week will be pretty saturated. The key events will be the Fed’s meeting and the publication of the report on the US labor market. We recommend you to pay attention to the statements and rhetoric of the Central Bank officials. A number of important statistical data on business activity in the Eurozone, the UK, Germany and China is also expected.

At the moment, there is a correction in the market of “black gold”. Futures for the WTI crude oil are testing the mark of $66.1 per barrel.

Market Indicators

The major US stock indexes continue to update historical highs. On Friday there were aggressive purchases: #SPY (+1.16%), #DIA (+0.82%), #QQQ (+1.53%).

The yield of 10year US government bonds continues to show positive dynamics. At the moment, the indicator is at the level of 2.692.70%.

The statistics on individual income and spending in the US at 15:30 (GMT+2:00);The trade balance of New Zealand at 23:45 (GMT+2:00).

by JustMarkets, 2018.01.29