The US Dollar Is Testing Monthly Highs

Last week, the US dollar strengthened against currency majors. On Friday, February 8, the dollar index (#DX) updated monthly highs and closed in the positive zone (+0.13%). The trade conflict between Washington and Beijing is still in the spotlight. Today, there will be a meeting between representatives of the US and China delegations in Beijing. The US delegation will continue to insist on the fulfillment of Washington’s requirements regarding the protection of intellectual property.

Quite optimistic statistics from Canada were published on Friday. Thus, the employment rate improved in January and counted to 66.8K, while experts expected 8.0K. However, the unemployment rate rose to 5.8% in January instead of 5.7%. Housing starts counted to 208.0K and exceeded market expectations at the level of 205.0K.

Today, a number of important economic data from the UK is expected. Investors' attention is also focused on Brexit. Prime Minister, Theresa May, should make significant progress in the Brexit negotiations by February 13, otherwise, the government will come up with an amendment that will allow parliamentarians to control more the Brexit process.

The "black gold" prices show negative dynamics due to the growth of drilling activity in the United States. At the moment, futures for the WTI crude oil are testing a mark of $52.25 per barrel.

Market Indicators

On Friday, there was a variety of trends in the US stock market: #SPY (+0.12%), #DIA (-0.23%), #QQQ (+0.20%).

The 10-year US government bonds yield fell slightly. Currently, the indicator is at the level of 2.64-2.65%.

The UK news feed on 11.02.2019:

- GDP data at 11:30 (GMT+2:00);
- Manufacturing production at 11:30 (GMT+2:00).

by JustForex, 2019.02.11

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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