The US Dollar Recouped Some Losses

Yesterday, the dollar index (#DX) closed in the positive zone (+0.41%). The US currency appreciably strengthened against the Japanese yen and the Swiss franc. There were no updates regarding the conflict between the United States and North Korea, which caused the closing of short positions on the US dollar.

Commodity currencies also came under pressure due to a sharp drop in the oil price. Futures for the WTI crude oil fell by more than 2.5%.

The euro moved away from local highs. In June, industrial production in the Eurozone decreased by 0.6%. The GDP growth in Germany in the second quarter slowed to 0.6%. Market expectations were at the level of 0.7%.

Today, investors' attention will be focused on the report on retail sales in the US. This statistics can have a significant impact on the dynamics of the major currency pairs.

Market Indicators

Yesterday the bullish sentiment prevailed on the US stock market. SPY (SPDR S&P 500 ETF) closed at $246.54 (+0.99%).

The 10-year US government bonds yield continues to recoup. At the moment the indicator is at the level of 2.24%.

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

  • – An inflation report in the UK at 11:30 (GMT+3:00);
  • – Statistics on retail sales in the US at 15:30 (GMT+3:00).

by JustForex, 2017.08.15

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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