Currency Majors Are Consolidating

Yesterday, the US dollar weakened slightly against a basket of major currencies. At the moment, the dollar index (#DX) is consolidating near monthly highs. The US published weak economic reports. Thus, core retail sales declined by 1.8% in December, although experts expected the figure to remain unchanged. The producer price index also dropped by 0.1%, while the growth by 0.1% was forecasted. Retail sales also fell by 1.2% in December instead of the expected growth by 0.3%. Today, financial market participants closely monitor negotiations between Beijing and Washington, as well as expect Donald Trump to sign budget documents.

The British pound weakened again after members of the UK House of Commons did not support the idea by Theresa May to agree with Brussels on the rescheduling of Brexit. Parliament voted against the amendment, which offered to postpone the Brexit deadline for at least three months. All this greatly undermines the authority of the British Prime Minister, Theresa May. Today, we expect important economic statistics from the UK.

The "black gold" prices are consolidating after growth the day before. At the moment, futures for the WTI crude oil are testing the mark of $54.50 per barrel.

Market Indicators

Yesterday, there was a variety of trends in the US stock market: #SPY (-0.22%), #DIA (-0.25%), #QQQ (+0.12%).

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

The news feed on 15.02.2019:

- Retail sales in the UK at 11:30 (GMT+2:00);
- A number of important statistics from the US at 15:30 (GMT+2:00).

by JustForex, 2019.02.15

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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