Currency Majors Are Consolidating

The US currency has been changing slightly against a basket of major currencies. Other majors also do not show active dynamics. The US dollar index (#DX) closed yesterday in the positive zone (+0.05). Yesterday, important economic data from the Eurozone and the US were published. Thus, the consumer price index in the Eurozone counted to 1.6% in December, as investors expected. The Philadelphia Fed manufacturing index rose to 17.0 in January, although experts forecasted 9.7.

Investors' attention is still focused on the US government shutdown. The US government has not worked for the 28th day. At the same time, there are no signals that the conflict between the US President Donald Trump and representatives of the Democratic Party in the US Congress regarding the construction of a wall on the border with Mexico will soon be settled.

The "black gold" prices demonstrate positive dynamics. At the moment, futures for the WTI crude oil are testing the mark of $52.60 per barrel. At 20:00 (GMT+2:00) a report on the US Baker Hughes oil rig count will be published.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.76%), #DIA (+0.80%), #QQQ (+0.79%).

The 10-year US government bonds yield is at the level of 2.74-2.75%.

The news feed on 18.01.2019:

- Retail sales in the UK at 11:30 (GMT+2:00);
- Core consumer price index in Canada at 15:30 (GMT+2:00);
- Michigan consumer expectations and sentiment at 17:00 (GMT+2:00).

by JustForex, 2019.01.18

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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