Investors Are Waiting for the Publication of the FOMC Protocols

Yesterday the Forex market trading activity and volatility were rather weak. In the United States, Independence Day was celebrated. Financial markets were closed. Since the beginning of this week, the US currency has managed to recoup some of the losses. At the moment, the technical pattern on the main currency pairs is ambiguous. Today, the attention is focused on the publication of FOMC protocols, which may indicate the possibility of raising the Fed's interest rate this year. At the moment, the probability of tightening monetary policy in December 2017 exceeds 50%.

The pound is pressed by weak statistics from the UK. In June, business activity in the manufacturing and construction sectors declined by 3.5% and 2.1%, respectively.

The index of business activity in the service sector of China from Caixin fell from 52.8 to 51.6. Market expectations were at the level of 52.9. This report puts pressure on the dynamics of the Australian dollar.

Market Indicators

The 10-year US government bonds yield has moved away from local highs. At the moment the indicator is at the level of 2.32-2.33%.

During yesterday's trading, the dollar index (#DX) showed the slight increase (+0.02%).

Today we advise you to pay attention to the following economic reports:

  • – Statistics on business activity in the Eurozone – 11:00 (GMT+3:00);
  • – The index of business activity in the services sector of the UK – 11:30 (GMT+3:00);
  • – Publication of the FOMC protocols – 21:00 (GMT+3:00).

by JustForex, 2017.07.05

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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