The Dollar Index Has Moved Away from Annual Highs

The US dollar weakened against the basket of major currencies during yesterday’s trading. The US dollar index (#DX) closed in the negative zone (0.10%). However, demand for the US currency is at a fairly high level. The sentiment of the financial market participants turned up after it became known that this month the USChina negotiations would be held, where the countries would try to settle the trade conflict.

Yesterday, economic data were also published. The volume of retail sales in the UK increased by 0.7% in July instead of the expected 0.2%. The number of building permits issued in the US increased by 1.5% to 1.311M in July, while experts forecasted a value of 1.310M. However, the Philadelphia Fed manufacturing index fell to 11.9 instead of 21.9. We expect statistics from the Eurozone and Canada.

The “black gold” prices are declining. At the moment, futures for the WTI crude oil are testing a mark of $65.40 per barrel.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.81%), #DIA (+1.66%), #QQQ (+0.33%).

At the moment, the 10year US government bonds yield is at the level of 2.86%2.87%.

Consumer price index in the Eurozone at 12:00 (GMT+3:00);Core consumer price index in Canada at 15:30 (GMT+3:00).

by JustMarkets, 2018.08.17