The US Dollar Declined Slightly

The US currency weakened slightly against a basket of major currencies. Yesterday, a report on the JOLTS job openings was published, the figure counted to 7.009M and was worse than the expected value of 7.100M. The dollar index (#DX) closed in the negative zone (-0.05%). Investors have taken a wait-and-see attitude before the Fed meeting, which will begin today and last two days. Tomorrow, the regulator will have to decide on a key interest rate. Experts expect that the regulator will leave the figure at the same level of 2.00%-2.25%.

Yesterday, reports on the labor market of New Zealand were also published. Thus, the “employment change” figure increased by 1.1% in the third quarter, while investors expected +0.5%. The unemployment rate declined to 3.9% in the third quarter instead of 4.4%. Today, the Reserve Bank of New Zealand will decide on the interest rate. Experts forecast that the interest rate will remain unchanged at 1.75%. The pound shows positive dynamics against optimistic news about Brexit.

The "black gold" prices have declined significantly. At the moment, futures for the WTI crude oil are testing a mark of $61.80 per barrel. At 17:30, a report on the US crude oil inventories will be published.

Market Indicators

Yesterday, the main US stock indices showed positive dynamics: #SPY (+0.63%), #DIA (+0.69%), #QQQ (+0.67%).

At the moment, the 10-year US government bonds yield is at the level of 3.19-3.20%.

The news feed on 07.11.2018:

- Ivey PMI in Canada at 17:00 (GMT+2:00);
- RBNZ interest rate decision at 22:00 (GMT+2:00).

by JustForex, 2018.11.07

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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