The Dollar Index Has Moved Away from Annual Highs

The US dollar weakened against the basket of major currencies during yesterday's trading. The US dollar index (#DX) closed in the negative zone (-0.10%). However, demand for the US currency is at a fairly high level. The sentiment of the financial market participants turned up after it became known that this month the US-China negotiations would be held, where the countries would try to settle the trade conflict.

Yesterday, economic data were also published. The volume of retail sales in the UK increased by 0.7% in July instead of the expected 0.2%. The number of building permits issued in the US increased by 1.5% to 1.311M in July, while experts forecasted a value of 1.310M. However, the Philadelphia Fed manufacturing index fell to 11.9 instead of 21.9. We expect statistics from the Eurozone and Canada.

The "black gold" prices are declining. At the moment, futures for the WTI crude oil are testing a mark of $65.40 per barrel.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.81%), #DIA (+1.66%), #QQQ (+0.33%).

At the moment, the 10-year US government bonds yield is at the level of 2.86%-2.87%.

The news feed on 2018.08.17:

- Consumer price index in the Eurozone at 12:00 (GMT+3:00);
- Core consumer price index in Canada at 15:30 (GMT+3:00).

by JustForex, 2018.08.17

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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