Investors Expect a Report on the US Labor Market

Yesterday, the US dollar began to drop till the end of the trading session. Market participants took a wait-and-see position before the release of the report on the US labor market. Investors expect improvement in key indicators. Yesterday, the index of business activity in the manufacturing sector from ISM was published, which turned out to be better than the forecasted values. The US dollar index (#DX) closed yesterday's trading in the positive zone (0.19%).

In January, the index of business activity in the UK manufacturing sector fell by 1.6% to 55.3. Market expectations were at the level of 56.5. The yen is under pressure after the statements of the Bank of Japan. The regulator plans to increase the volume of bond purchases as part of its policy of controlling the yield curve.

At the moment, the "black gold" prices are growing moderately. Futures for the WTI crude oil are testing a mark of $66.2 per barrel. Investors expect data on the US Baker Hughes Oil Rig Count at 20:00 (GMT+2:00).

Market Indicators

Yesterday, there was a variety of trends in the US stock market: #SPY (-0.11%), #DIA (+0.07%), #QQQ (-0.85%).

The 10-year US government bonds yield shows a positive dynamics. At the moment, the indicator is at the level of 2.78%.

The news feed on 2018.02.02:

- Data on business activity in the construction sector of the UK at 11:30 (GMT+2:00);
- Report on the labor market in the US at 15:30 (GMT+2:00).

by JustForex, 2018.02.02

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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