Investors Took a Wait-and-See Attitude

The US dollar is stable relative to the majors after the trading war beginning concerns have subsided. The US dollar index (#DX) closed with a small minus (-0.19%) yesterday. Investors took a wait-and-see attitude before the publication of the report on the change in consumer prices in the country for February. This statistics can have a significant impact on the dynamics and further alignment of forces on the main currency pairs.

The yen is decreasing because of the corruption scandal concerning Japanese Prime Minister Shinzo Abe. The cause of the scandal was a dubious land deal, according to which the state land was sold to the nationalist organization Moritomo Gakuen at a price seven times lower than the market one. At the moment, an internal investigation is underway. If the Prime Minister is convicted of falsifying the documents, the whole Abe government will be forced to resign.

The "black gold" prices fell significantly yesterday due to the further growth in the extraction of raw materials in the US. Futures for the WTI crude oil are testing $61.20 per barrel.

Market Indicators

On Friday, there was a variety of trends in the US stock market: #SPY (-0.13%), #DIA (-0.63%), #QQQ (+0.53%).

At the moment, the 10-year US government bonds yield is at the level of 2.87-2.88%.

The news feed on 2018.03.13:

- A number of economic sentiment indices in Germany and the Eurozone at 12:00 (GMT+2:00);
- The core consumer price index in the US at 14:30 (GMT+2:00).

We also recommend you to pay attention to the speech of governor of the Bank of Canada.

by JustForex, 2018.03.13

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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