The FOMC Protocol Appeared to Be Ambiguous

During yesterday's trading, the US dollar showed a variety of trends relative to major world currencies. The FOMC protocol showed that the representatives of the Federal Reserve did not see eye to eye on the reduction of the assets volume on the balance of the Central Bank. Some officials believe that there is no necessity to hurry with the implementation of this program since the latest economic reports from the United States were mixed. The probability of an increase in the Fed's key interest rate in December this year fell to 47.4%.

The UK continues to publish weak statistics. In June, the index of business activity in the services sector was 53.4 in comparison with the previous value at the level of 53.8.

At the moment, the financial market participants expect a report on the labor market in the US, which will be published on Friday, July 07. Today the preliminary data from ADP will appear.

Market Indicators

Yesterday, US stock indices closed in the positive zone. SPY (SPDR S&P 500) increased by $0.56 (+0.23%).

The 10-year US government bonds yield is recouping after yesterday's decline. At the moment the indicator is at the level of 2.34%.

It is necessary to pay attention to the following economic reports from the USA:

  • – Statistics on the labor market from ADP at 15:15 (GMT+3:00);
  • – The index of business activity in the non-manufacturing sector from ISM at 17:00 (GMT+3:00);
  • – Crude Oil Inventories at 18:00 (GMT+3:00).

by JustForex, 2017.07.06

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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