The US Dollar Is Stable

Yesterday, the US currency has suspended growth. The dollar index (#DX) moved away from local highs and closed in the negative zone (0.15%). This movement was mostly caused by technical factors. Demand for the American currency is still at a high level. Support is provided by optimistic economic reports. The consumer confidence index rose to 128.7, while investors expected a value of 126.0; in March, new home sales increased by 4.0% to 694 thousand. Experts expected the figure at 625 thousand. Euro did not respond to the weak IFO business climate index in Germany, which counted to 102.1 instead of the forecasted value of 102.8.

Today, the publication of important economic reports is not planned. Investors are waiting for the ECB decision on further monetary policy and data on GDP of the United Kingdom and the United States. We recommend paying attention to the US government bonds yield.

The “black gold” prices are consolidating. At the moment, futures for the WTI crude oil are testing a mark of $67.60 per barrel. At 17:30 (GMT+3:00), a report on the US crude oil inventories will be published.

Market Indicators

Yesterday, there were aggressive sales in the US stock market: #SPY (1.35%), #DIA (1.74%), #QQQ (2.12%).

At the moment, the 10year government bonds yield is at the level of 2.993.01%.

Today, we recommend paying attention to the speech of the Bank of Canada governor Poloz.

by JustMarkets, 2018.04.25