Majors Show a Variety of Trends

The US dollar continues to fall in price against the euro and the yen after a significant weakening during yesterday's trading. Investors suggest that a decrease in demand for the dollar is associated with a fall in the 10-year US government bonds yield. At the same time, the euro rises in price against the US currency due to the gradual curtailment of incentive programs by the European Central Bank. Despite the implementation of the tax reform in the US, it may not be enough for the dollar to be strengthened.

The single European currency has responded poorly to the information that on March 4 parliamentary elections will be held in Italy. Majors show a variety of trends. The Canadian dollar is growing against the US currency. Since early December, the Canadian dollar has increased by 2.5% due to the rise in the oil prices. The US dollar rose against the Japanese yen, but fell against the euro and the British pound.

The "black gold" prices are growing against a decline in production and inventories of raw materials in the US. Today during the Asian trading session, futures for the WTI crude oil have grown and are currently being traded at $60.20-$60.25 per barrel. We recommend you to pay attention to the report on the number of drilling rigs from Baker Hughes at 20:00 (GMT+2:00).

Market Indicators

Yesterday, the major US stock indices closed in the positive zone: #SPY (+0.21%), #DIA (+0.26%), #QQQ (+0.12%).

At the moment, the 10-year US government bonds yield is at the level of 2.42-2.43%.

The news feed on 2017.12.29:

- The consumer price index in Germany at 15:00 (GMT+2:00).

by JustForex, 2017.12.29

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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