Financial Market Participants Have Taken a Wait-and-See Attitude

The US dollar is moving in different directions against the basket of major currencies. The US currency is still under pressure due to investors' concern over the escalation of the trade and technological conflict between the US and China. The greenback also weakened slightly against the Japanese yen since US President Donald Trump is putting pressure on Japan to reduce its positive trade balance with the United States. At the moment, financial market participants expect additional drivers. The dollar index (#DX) has the potential for further correction.

The euro is stable after the Pro-EU parties took two-thirds of the seats in the elections to the European Parliament. The election results disappointed anti-immigration and anti-European politicians, led by Marine Le Pen and Italian Deputy Prime Minister Matteo Salvini, who oppose the close integration of EU countries. The euro is tending to recover after a continuous decline.

UK Foreign Secretary Jeremy Hunt said no-deal Brexit would be “political suicide.” He also added that he would require more time to conclude a new agreement on Brexit if he replaced Prime Minister Theresa May.

The "black gold" prices have been growing after the collapse last week. At the moment, futures for the WTI crude oil are testing the mark of $59.00 per barrel.

Market Indicators

Yesterday, the US financial marketplaces were closed due to the holiday.

The 10-year US government bonds yield is declining. Currently, the indicator is at the level of 2.29-2.30%.

The news feed on 2019.05.28:

- CB consumer confidence index in the US at 17:00 (GMT+3:00).

by JustForex, 2019.05.28

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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