The USD Index Retreated From the Annual Maximums

Yesterday USD weakened against the major currencies. The USD index (#DX) retreated from the annual maximums and closed the trading session in the red. Further correction is highly possible. An additional pressure on the USD is caused by the political processes in the White House. Several important economic stats were published during the Asian trading session. According to the preliminary data, the GPD of Japan in the third quarter slowed down by 0.3%, as expected. In October, the industrial production volume in China increased by 5.9% (year-to-year), which is higher than the expected 5.8%.

The demand for the pound is significantly higher. Great Britain and the European Union reached the preliminary agreement regarding Brexit after long negotiations. Germany published weak GDP reports. During the third quarter, the growth of their economy was 1.1% (year-to-year) instead of the expected 1.3%. The financial market participants are expecting inflation reports from the US and Great Britain.

The prices for oil are showing a negative trend. Yesterday the WTI futures lowered by 7%. At the moment the price is testing the mark of 55.50 USD/barrel.

Market Indicators

The major stock indices in the US are showing mixed results: #SPY (-0,19%), #DIA (-0,46%), #QQQ (+0,08%).

The 10-year US government bonds yield is 3.14-3.15%.

The Economic News Feed for 14.11.2018:
  • - Customer Price Index (GB) – 11:30 (GMT+2:00);
  • - preliminary data on the GDP (EU) – 12:00 (GMT+2:00);
  • - CPI Index (US) – 15:30 (GMT+2:00).

by JustForex, 2018.11.14

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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