The Market is Waiting for Additional Drivers

Yesterday, the US dollar showed mixed results relative to the majors. The US currency slightly strengthened against the euro on the background of weak data on business activity in the Eurozone. At the same time, the USD/CAD currency pair has overcome the round level of 1.25000. At the moment, participants of the financial markets adopted a wait-and-see attitude before the Fed's meeting, which will be held on Wednesday, July 26. Experts expect that the Central Bank will keep the range of the key interest rate at the previous level of 1.00-1.25%. The regulator can provide additional information on plans to reduce assets on its balance sheet.

In June, sales in the secondary housing market of the United States decreased by 1.8%. Experts expected that the index would decrease by 1.0%.

The price of "black gold" is recouping after a significant drop last week. At the moment, futures for the WTI crude oil are being traded above $46.5 per barrel.

Market Indicators

The main US stock indexes continue to test historical highs. Yesterday #SPY (SPDR S&P 500 ETF) closed at around 246.82 USD (-0.02%).

The 10-year US government bonds yield demonstrates an upward trend. At the moment the indicator is at the level of 2.25%.

Today we recommend you to pay attention to the following events:

  • – The IFO business climate index in Germany at 11:00 (GMT+3:00);
  • – The consumer confidence index in the US at 17:00 (GMT+3:00).

by JustForex, 2017.07.25

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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