The US Currency Recouped Some of the Losses. We Are Waiting for Data on the US GDP

Yesterday, a corrective movement was observed in the main currency pairs. The US dollar moved away from local minimums. The dollar index (#DX) closed the trading session in the positive zone (+0.29%). This movement was largely caused by profit-taking before today's US GDP report. It should be recalled that the latest statistics from the US was ambiguous. Nevertheless, experts expect that in the second quarter the country's economic growth will be 2.6% compared to the previous value of 1.4%.

The Swiss franc sharply weakened against the US dollar. The growth of the USD/CHF quotations exceeded 150 points. The National Bank of Switzerland said that the national currency is too "strong".

In the Asian trading session, there was an increase in demand for yen. This is due to the release of positive data on the household spending and the consumer prices indices.

At the moment, the "black gold" price has stabilized. Futures for the WTI crude oil are being traded near $49 per barrel.

Market Indicators

Major US stock indices showed mixed results: #SPY (-0.09%), #DIA (+ 0.42%), #QQQ (-0.63%).

During yesterday's trading, the 10-year US government bonds yield showed a positive trend. At the moment, the indicator is at the level of 2.30-2.31%.

The news background on 2017.07.28:

Today, we recommend you to pay attention to the GDP data for the US and Canada. The reports will be published at 3:30 pm (GMT+3:00).

by JustForex, 2017.07.28

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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