The Dollar Index Keeps the Current Levels

During Friday’s trading, the US dollar kept the moderate growth relative to other major currencies against forecasts of a possible interest rate increase acceleration. Demand for the American currency remains at a high level after the publication of the report of the Fed January meeting. The US dollar index (#DX) closed in the positive zone (+0.17%) on Friday.

This week the investors’ attention will be focused on the US monetary policy, as on Tuesday the Fed chairman Jerome Powell will speak for the first time to the Congress about the monetary policy and the economy. In his speech, Powell should report on the plans for the March Federal Reserve meeting on the monetary policy. A number of important economic reports will also be published this week. Investors expect statistics on the labor market in the US.

The “black gold” prices increased during the Asian trading session. Futures for the WTI crude oil are testing the price of $63.6 per barrel.

Market Indicators

On Friday, bullish sentiment prevailed in the US stock market: #SPY (+1.59%), #DIA (+1.37%), #QQQ (+2.04%).

The 10year US government bonds yield has moved away from local highs. At the moment, the indicator is at the level of 2.852.86%.

New home sales in the US at 17:00 (GMT+2:00);Trade balance in New Zealand at 23:45 (GMT+2:00).

We also recommend you to pay attention to the speech of the ECB head Draghi.

by JustMarkets, 2018.02.26