Trading Activity Is Still Low

During yesterday's trading, the dollar index was in a narrow range. Trading activity is still low. The US currency did not respond to the mixed economic data published last week. It is expected that the implementation of the tax reform in the US, as well as an increase in the basic interest rate of the Fed will support the dollar. At the moment, the majors are consolidating. Investors expect additional drivers.

The Australian dollar has grown significantly against the background of the increase in commodity prices and optimistic prospects for the country's economy. It is expected that the Reserve Bank of Australia will raise the rate in the new year. Inflation in the country is accelerating. Yesterday, positive reports on inflation and unemployment in Japan were also published. However, despite this, the yen's rate has changed insignificantly.

In the market of "black gold" bullish sentiments dominate. After yesterday's significant growth, oil quotes began to fall. At the moment, futures for WTI crude oil are being traded near $ 59.75 per barrel.

Market Indicators

The major US stock indices closed in the negative zone: #SPY (-0.12%), #DIA (-0.06%), #QQQ (-0.54%).

At the moment, the 10-year US government bonds yield is at the level of 2.47%.

We recommend you to pay attention to the following economic reports from the USA:

- The index of consumer confidence at 17:00 (GMT+2);
- The index of pending sales in the real estate market at 17:00 (GMT+2).

by JustForex, 2017.12.27

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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