The USD is consolidating. Traders are waiting for the ECB meeting

The US dollar did not change much against a basket of major currencies. The USD index (#DX) ended the trading session with a slight growth (+ 0.06%). It became known that China is going to free a number of American goods from the 25% fee. The list includes 16 types of goods. China is also considering a new list of goods that will not be subject to duties. The changes will take effect on September 17, 2019. Investors continue to monitor the development of trade relations between the United States and China.

The attention of experts as a whole is focused on the ECB meeting , which will be held tomorrow. It is expected that the regulator will lower the rate on deposit funds from -0.40% to -0.50%. Investors also expect that some measures will be taken to stimulate the eurozone economy. According to Bloomberg, more than 80% of economists expect the ECB to announce the start of a quantitative easing program at tomorrow's meeting.

The British pound continued to strengthen against the US currency thanks to the publication of positive economic reports. Thus, the average level of wages including premiums increased in July by 4.0% instead of 3.7%. The number of applications for unemployment benefits rose to 28.2K, although experts predicted an increase to 29.3K.

Prices for oil continued to rise. WTI crude oil futures are currently testing $58.20 per barrel. At 17:30 (GMT+3:00), US crude oil inventories will be published.

Market Indicators

Yesterday, mixed trends were observed on the US stock markets: #SPY (-0.02%), #DIA (+ 0.22%), #QQQ (-0.29%).

Yields on the US government 10-year bonds continue to recover. At the moment, the indicator is at the level of 1.73-1.74%.

The Economic News Feed for 11.09.2019:
  • - US manufacturer`s price index - 15:30 (GMT + 3: 00).

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by JustForex, 2019.09.11

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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