The US Dollar Is in the Positive Zone. Washington-Beijing Trade Talks Are in the Spotlight

The US dollar is strengthening against a basket of currency majors. The dollar index (#DX) closed yesterday's trading session in the positive zone (+0.23%). The fact that the United States and China are ready to cancel the mutual tariffs that were introduced earlier supported the US currency. The parties want to sign the first stage of the deal before the end of the week. Not all members of the US government agree to cancel tariffs, but the likelihood of their cancelation affected financial markets positively.

The British pound weakened against the US dollar. The Bank of England, as expected, left the key interest rate unchanged at 0.75% per annum. However, opinions about the interest rate were divided: two Bank of England officials voted to cut interest rates due to a slowdown in the economy, while others are ready to consider a decrease if the global downtrend continues.

The "black gold" prices have been declining. Currently, futures for the WTI crude oil are testing the $56.30 mark per barrel.

Market Indicators

Yesterday, there was the bullish sentiment in the US stock markets: #SPY (+0.35%), #DIA (+0.82%), #QQQ (+0.34%).

The 10-year US government bonds yield has updated local highs. At the moment, the indicator is at the level of 1.90-1.91%.

The Economic News Feed for 08.11.2019:
  • - Statistics on the real estate market in Canada at 15:30 (GMT+2:00).
  • - Labor market report in Canada at 15:30 (GMT+2:00);
  • - Michigan consumer expectations and sentiment indices at 17:00 (GMT+2:00).

by JustForex, 2019.11.08

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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