The US Dollar Index Is in Plus

The US dollar strengthened against a basket of major currencies during yesterday's trading session. The dollar index (#DX) closed in the positive zone (+0.28%). In general, trading activity was low in the financial markets due to the Chinese New Year. Financial market participants expect additional drivers. Today, important economic data from the UK and the US will be published.

During the Asian trading session, ambiguous economic data from Australia have been published. Thus, the volume of retail sales fell by 0.4% in December, while investors did not expect the figure to change. At the same time, the Reserve Bank of Australia left the interest rate unchanged at 1.50%, as experts forecasted. The regulator plans to adhere to the current monetary policy.

The "black gold" prices are consolidating. At the moment, futures for the WTI crude oil are testing the mark of $54.70 per barrel. At 23:30 (GMT+2:00), the API weekly crude oil stock will be published.

Market Indicators

Yesterday, the bullish sentiment prevailed in the US stock market: #SPY (+0.70%), #DIA (+0.73%), #QQQ (+1.24%).

The 10-year US government bonds yield continues to rise. Currently, the figure is at the level of 2.71-2.72%.

Economic Data on 05.02.2019:

- Statistics on economic activity in the Eurozone at 11:30 (GMT+2:00);
- Services PMI in the UK at 11:30 (GMT+2:00);
- ISM non-manufacturing PMI in the US at 17:00 (GMT+2:00).

by JustForex, 2019.02.05

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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