The US Currency Continues to Lose Grounds

The US dollar fell to a three-year low, as a result other world currencies strengthened. Although the sentiment of financial market participants has improved due to the law on temporary financing of the US government, the US currency still loses its grounds. In three weeks, the US Congress may face again a shutdown of government work. The US dollar index (#DX) fell by -0.34%.

The euro rose against the US dollar due to the news that the Eurozone economy was strengthening. The euro was supported by the data of the European Commission published on Tuesday, according to which the growth of the consumer confidence index in the Eurozone in January exceeded expectations. Investors took a wait-and-see position before the ECB meeting on Thursday. Market participants assume that the regulator will keep interest rates unchanged.

The "black gold" prices are stable. At the moment, futures for the WTI crude oil are testing a mark of $64.5 per barrel. We recommend paying attention to the report on crude oil inventories in the US at 17:30 (GMT+2:00).

Market Indicators

Yesterday, the main indices showed a variety of trends: #SPY (+0.21%), #DIA (-0.04%), #QQQ (+0.83%).

The 10-year US government bonds yield is at the level of 2.62%.

The news feed on 2018.01.24:

- Statistics on business activity in Germany and the Eurozone at 10:30 (GMT+2:00) and 11:00 (GMT+2:00), respectively;
- Report on the labor market in the UK at 11:30 (GMT+2:00);
- Existing home sales in the US at 17:00 (GMT+2:00);
- Consumer price index in New Zealand at 23:45 (GMT+2:00).

by JustForex, 2018.01.24

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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