Investors Took a Wait-and-See Attitude Before the Meetings of the Fed and the ECB

The US dollar has been declining against the basket of major currencies after the G7 summit. On Friday, the G7 summit took place, at which countries tried to reach agreements on international trade. However, on the eve of the summit, the US President Donald Trump accused France and Canada of excessively high duties on American goods. Donald Trump did not sign the communique on the results of the G7 summit and left it hastily.

This week investors expect negotiations between the leaders of the United States and North Korea, which will be held on Tuesday, June 12, in Singapore. Also, the meetings of the Central Banks of the United States and Europe are in the focus of attention. Experts expect that the Fed will raise the interest rate for the second time to 2.00%. The ECB may announce details on the reduction of the quantitative easing program.

The "black gold" prices are moderately declining. At the moment, futures for the WTI crude oil are testing a mark of $65.50 per barrel.

Market Indicators

On Friday, the bullish sentiment was observed in the US stock market: #SPY (+0.30%), #DIA (+0.29%), #QQQ (+0.01%).

At the moment, the 10-year US government bonds yield is at the level of 2.95-2.96%.

The economic calendar on 2018.06.11:

- Manufacturing production in the UK at 11:30 (GMT+3:00).

by JustForex, 2018.06.11

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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