The US Dollar Is Still Under Pressure

The US dollar shows multidirectional dynamics relative to the basket of major currencies. The pressure on the American currency is put by the statements of the US President regarding the Fed policy. So, Donald Trump believes that the US central bank slows down the economic growth of the country. He wrote in his Twitter: "If the Fed had done its job properly, which it has not, the Stock Market would have been up 5000 to 10,000 additional points, and GDP would have been well over 4% instead of 3%...with almost no inflation." The dollar index (#DX) closed the trading session with a slight decrease (-0.04%).

The Australian dollar weakened after the publication of the minutes of the RBA's monetary policy meeting. The regulator believes that lower interest rates would be "appropriate" if inflation remains low and the unemployment rate continues to rise. The British pound holds the mark of $1.31. British Prime Minister, Theresa May, announced that the country will prepare for a "tough" Brexit in October. However, the President of the European Council, Donald Tusk, urges not to hurry with hasty decisions, despite the fact that everyone is already exhausted because of the uncertainty around Brexit.

The "black gold" prices continue to fall. At the moment, the WTI crude oil futures are testing the mark of $63.20 per barrel. At 23:30 (GMT+3:00) a report on crude oil inventories according to the American Petroleum Institute will be published.

Market Indicators

Yesterday, multidirectional dynamics was observed on the US stock market: #SPY (-0.07%), #DIA (-0.10%), #QQQ (+ 0.02%).

The yield of 10-year US government bonds is at the level of 2.55-2.56%.

The news feed for 2019.04.16:

- Data on the labor market in the UK at 11:30 (GMT+3:00);
- The ZEW economic sentiment index in Germany at 12:00 (GMT+3:00);
- The industrial production volume in the United States at 16:15 (GMT+3:00).

by JustForex, 2019.04.16

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.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
10 most stable forex pairs to trade in 2021
If you are interested in forex but have never tried trading before, sooner or later, you come across the question of what currency pair is safe to trade so that you don’t lose half of your deposit on your first position. And the answer is as simple as can be, the safest currency pairs are the most stable ones. Read on to learn which currency pairs are the best to start your trading journey.
Read more
Best Gold Trading Tips For Beginners
Gold is one of the most popular assets traded worldwide by investors, funds, and speculators who aim to profit from the price fluctuations or stand up against inflation. Unfortunately, many market participants fail to catch the wave and take full advantage of what the gold market can offer due to the lack of knowledge and experience. Are you planning to become the next gold trader? Learn how to trade gold in the most profitable way.
Read more
How to Become a Successful Forex Trader in Malaysia
With broad access to online brokerage services, everyone can become a trader these days. However, few people actually find success in FX. The reason might be that many of those who try trading skip some essential steps or simply do things wrong. Learn about the best ways to become a currency trader in Malaysia from this article.
Read more