The Dollar Index Is Holding Three-Year Minimum

Yesterday, the US dollar continued to lose grounds against the majors. The dollar index (#DX) closed the trading session in the negative zone (-0.66%). Demand for the euro is still at a fairly high level because of the ECB statements. This year the regulator plans to consider reducing of the quantitative easing program. The pound continued to show positive dynamics. It should be recalled that the Netherlands and Spain are ready to conclude favorable trading conditions with Great Britain after Brexit. Nevertheless, in the near future, the technical correction of majors is not excluded.

Today, the key event will be the report on inflation in the UK. Experts expect that in December, the consumer price index will decrease by 0.1% to 3.0% (year-on-year). We also recommend paying attention to the dynamics of the US government bonds yield.

The "black gold" quotes moved away from local highs. At the moment, futures for the WTI crude oil are testing $ 64.4 per barrel.

Market Indicators

Yesterday, the US financial markets were closed due to the Martin Luther King Day.

The 10-year US government bonds yield began to decline. At the moment, the indicator is at the level of 2.54-2.55%.

The news feed on 2018.01.16:

- Consumer price index in the UK at 11:30 (GMT+2:00);
- API weekly crude oil stock at 23:30 (GMT+2:00).

by JustForex, 2018.01.16

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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