Demand for the US Dollar Has Resumed

The US currency strengthened against the basket of major currencies after negotiations between President of the European Commission JeanClaude Juncker and the US President Donald Trump. As it became known, the US and the European Union agreed to abolish trade duties for each other in order to avoid a trade war. The US dollar index (#DX) started rising and closed in the positive zone (+0.47%).

Nevertheless, the growth of the US dollar was restrained due to a weak report on core durable goods orders. The indicator counted to 0.4% in June, while investors expected a value of 0.5%. The euro was under pressure after it became known that the interest rate remained unchanged at the level of 0.00%. The ECB President Mario Draghi said that the Eurozone economy needed financial stimulation. The ECB representatives intend to leave the interest rate unchanged until the end of the summer of 2019.

The “black gold” prices are consolidating. At the moment, futures for the WTI crude oil are testing a mark of $69.45 per barrel.

Market Indicators

Yesterday, there was a variety of trends in the US stock market: #SPY (0.24%), #DIA (+0.43%), #QQQ (1.52%).

At the moment, the 10year US government bonds yield is at the level of 2.962.97%.

Data on the US GDP at 14:45 (GMT+3:00).

by JustMarkets, 2018.07.27