The Dollar Index Is Testing Annual Highs

Yesterday, the US dollar strengthened again relative to the basket of major currencies. The dollar index (#DX) closed in the positive zone (+0.15%). Support was provided by the 10-year US government bonds yield growth. The indicator exceeded the 3% mark. Today, investors expect a report on the volume of retail sales in the US, which may have a significant impact on the dynamics of currency majors.

Investors will also follow a report on the labor market in the UK. Experts expect ambiguous data. We also recommend paying attention to ZEW economic sentiment indices in Germany and the Eurozone. At the moment, the USD/JPY currency pair is consolidating. Financial market participants took a wait-and-see attitude before a report on GDP of Japan, which will be published on May 16.

The "black gold" prices are stable. Futures for the WTI crude oil are testing a mark of $70.90.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.05%), #DIA (+0.29%), #QQQ (+0.17%).

At the moment, the 10-year US government bonds yield is at the level of 3.00-3.02%.

The news feed on 2018.05.15:

- A report on the labor market in the UK at 11:30 (GMT+3:00);
- ZEW economic sentiment indices in Germany and the Eurozone at 12:00 (GMT+3:00);
- Statistics on retail sales in the US at 15:30 (GMT+3:00).

by JustForex, 2018.05.15

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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