Elections to the European Parliament Are in the Focus of Attention

The US dollar continues to show positive dynamics against currency majors. The dollar index (#DX) has updated annual highs again. The potential for further growth is still high. According to the FOMC meeting minutes, the Fed plans to adhere to the current monetary policy. The British pound is still under pressure amid uncertainty concerning Brexit. There was information that the Prime Minister of Great Britain Theresa May could announce resignation this Friday. Investors also expect up-to-date information regarding trade negotiations between the US and China.

At the moment, financial market participants are focused on the elections to the European Parliament, which will begin today. In the near future, trading activity and volatility of the euro may increase significantly. German GDP growth in the first quarter of 2019 met market expectations and counted to 0.4%. We also expect important economic releases from the Eurozone, the UK and the US.

Oil quotes are declining amid the growth of oil reserves in the US. At the moment, futures for the WTI crude oil have approached the level of $61.00 per barrel.

Market Indicators

Yesterday, major US stock indices closed in the red zone: #SPY (-0.31%), #DIA (-0.45%), #QQQ (-0.45%).

The 10-year US government bonds yield has been declining. Currently, the indicator is at the level of 2.37-2.38%.

The news feed on 2019.05.23:

- Indices on economic activity in Germany and the Eurozone at 11:00 (GMT+3:00);
- Statistics on retail sales in the UK at 11:30 (GMT+3:00);
- Publication of the ECB monetary policy meeting account at 14:30 (GMT+3:00);
- New home sales in the US at 17:00 (GMT+3:00).

by JustForex, 2019.05.23

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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