Trade Conflict Between the US and China Is Again in the Spotlight

On Friday, economic reports on the US labor market were published. Thus, the number of people employed in the nonfarm sector slowed down to 157K in July, while experts expected 193K. At the same time, the value was revised upwards and counted to 248K in June. The unemployment rate fell to 3.9% in July, as investors forecasted. In general, demand for the US currency is still high. The US dollar index (#DX) slightly fell and closed in the negative zone (-0.03%).

The trade war between the US and China is again in the spotlight. On Thursday, the US administration decided to impose duties on Chinese goods $200 billion worth. On Friday, China announced the introduction of retaliatory duties on American goods $60 billion worth. Today, the US sanctions against Iran will also come into effect. Investors monitor the geopolitical events.

The "black gold" prices are slightly increasing. At the moment, futures for the WTI crude oil are testing a mark of $68.8 per barrel.

Market Indicators

On Friday, the major US stock indices closed in the positive zone: #SPY (+0.43%), #DIA (+0.51%), #QQQ (+0.31%).

At the moment, the 10-year US government bonds yield is at the level of 2.94-2.95%.

The news feed on 2018.08.06:

Important economic news is not expected to be published today. Financial market participants monitor political events.

by JustForex, 2018.08.06

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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