The US Dollar Is Under Pressure due to the Strained Trade Relations

The US currency weakened during yesterday’s trading session against the resumed tension in the USChina trade relations. As it became known, the US President Donald Trump intends to prohibit most Chinese companies from making investments in the US technology companies, as well as to restrict the export of technological equipment to China. The US dollar index (#DX) closed in the negative zone (0.24%). Demand for the Japanese yen has risen.

Yesterday, the German IFO business climate index was published, which counted to 101.8, while investors expected a value of 101.9. In May, new home sales in the US rose by 6.7% to 689K instead of the forecasted value of 667K. Today, the news feed is rather calm. We recommend following uptodate news about trade relations between the US and its partners.

The “black gold” prices are slightly increasing. At the moment, futures for the WTI crude oil are testing a mark of $68.25 per barrel. At 23:30 (GMT+3:00), a report on the API weekly crude oil stock will be published.

Market Indicators

Yesterday, aggressive sales were observed in the US stock market: #SPY (2.25%), #DIA (1.38%), #QQQ (2.25%).

At the moment, the 10year US government bonds yield is at the level of 2.882.89%.

CB consumer confidence index in the US at 17:00 (GMT+3:00).

by JustMarkets, 2018.06.26