The US Dollar Is Still Under Pressure. Investors Expect Additional Drivers

On Friday, the US dollar fell against a basket of major currencies. The US currency is under pressure due to "dovish" comments by Fed Chairman, Jerome Powell. The official pointed to the Fed's willingness to cut the base interest rate later this month in order to support the economy amid the weakening of global growth and uncertainty concerning trade disputes. The US dollar index (#DX) closed in the negative zone (-0.25%).

Today, during the Asian trading session, optimistic statistics from China have been published. GDP growth in the country in the 2nd quarter met market expectations and counted to 6.2% (y/y). GDP (q/q) accelerated to 1.6% from 1.4%. Industrial production rose by 6.3% in June instead of the forecasted value of 5.2%. These economic releases supported the Australian and New Zealand dollars.

The "black gold" prices stabilized after significant growth last week. At the moment, futures for the WTI crude oil are testing the mark of $60.15 per barrel.

Market Indicators

On Friday, the bullish sentiment was observed in the US stock markets: #SPY (+0.45%), #DIA (+0.91%), #QQQ (+0.58%).

The 10-year US government bonds yield rose slightly. Currently, the indicator is at the level of 2.11-2.12%.

The News Feed on 2019.07.15:

Today, the publication of important economic news is not expected. The financial markets of Japan are closed due to the holiday.

by JustForex, 2019.07.15

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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