The US Currency Began to Recover Against Other Majors

On Friday, the US dollar rose against the major currencies. However, the US currency is under pressure due to the possible reduction in the difference between the rates of the Fed and central banks of other countries, as well as the possible increase in the deficit of the US state budget. The US dollar index (#DX) closed trading in the positive zone (+0.58%). Today, the US financial markets are closed due to the Presidents Day, so activity and volatility may be low.

Stock markets continue to recover, therefore the demand for the yen is falling. The British pound rate also decreased against the US dollar after it reached its weekly high. This week, attention of financial market participants will be directed to the minutes of the previous Fed meeting. Investors hope to receive information on further rise in the interest rate this year.

The “black gold” prices are growing against the recovery in Asian stock markets. At the moment, futures for WTI crude oil are testing a mark of $61.2 per barrel.

Market Indicators

On Friday, the major US stock indices showed mixed dynamics: #SPY (+0.03%), #DIA (0.21%), #QQQ (0.45%).

The 10year US government bonds yield is at the level of 2.87%.

Important economic reports are not planned today. We recommend you to pay attention to the meeting of the Eurogroup, as well as to the speech of the governor of the Bank of England, Carney.

The financial markets of China and the US are closed due to the holidays.

by JustMarkets, 2018.02.19