Euro Moved away from the Lows

The US dollar weakened against the basket of major currencies. Yesterday, weak statistics from the US were published. Thus, according to ADP, the number of employed in the nonfarm sector fell to 178 thousand, while investors expected the value of 186 thousand. The US GDP slowed down to 2.2% instead of the forecasted 2.3% in the first quarter. The US dollar index (#DX) closed in the negative zone (0.77%). The USChina trade conflict escalated again. Donald Trump said that in the near future, the US would impose duties on Chinese goods worth $50 billion.

Euro moved away from the lows against the US dollar despite political instability in Italy. Positive statistics from Germany also support euro. In May, the number of unemployed in Germany declined by 11 thousand, while experts expected a decrease by 10 thousand. The unemployment rate fell to 5.2% instead of the forecasted value of 5.3%. Bank of Canada left the interest rate at the previous level of 1.25%.

The “black gold” prices are slightly decreasing after growth the day before. At the moment, futures for the WTI crude oil are testing a mark of $68.00 per barrel. At 18:00 (GMT+3:00) a report on the crude oil inventories in the US will be published.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+1.33%), #DIA (+1.33%), #QQQ (+0.72%).

At the moment, the 10year US government bonds yield is at the level of 2.852.86%.

Consumer price index in the Eurozone at 12:00 (GMT+3:00);The number of initial jobless claims in the US at 15:30 (GMT+3:00);GDP data in Canada at 15:30 (GMT+3:00);The index of pending sales in the real estate market in the US at 17:00 (GMT+3:00).

by JustMarkets, 2018.05.31