USD Updated the Local Minimums

The USD keeps descending against the basket of major currencies. On Friday, the USD index (#DX) updated the local minimums and closed in the negative zone (-0.48%). Some Federal Reserve representatives took a guarded position regarding the aggressive monetary policy going further. Richard Clarida, the Vice Chairman of Federal Reserve, thinks that the interest rates are around the "neutral" level. He is concerned about the slow growth rate of the world economy and reports that the Central Bank needs to consider the future statistics. According to the CME FedWatch Tool, the probability of Federal Reserve increasing the interest rates in December has decreased to 68.9%.

The investors keep evaluating the Brexit conundrum. As a reminder: last week, Dominic Raab, the Secretary of UK regarding the Brexit, resigned. Previously, Jeremy Hunt, the head of the Foreign Office, said that London and Brussels will be able to reach an agreement by the end of November. Aside from that, keep an eye on the trading conflict between the US and China.

The oil quotes keep recovering. The WTI futures are testing the 57.50 USD/barrel mark.

Market Indicators

On Friday the major stock indices were rather ambigous: #SPY (+0,26%), #DIA (+0,33%), #QQQ (-0,35%).

The 10-year US government bonds yield keeps falling. Current value is 3,07-3,08%.

The Economic News Feed for 19.11.2018 is calm.

by JustForex, 2018.11.19

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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