The Dollar Index Is Consolidating. Washington-Beijing Trade Deal Is in the Spotlight

The US dollar strengthened slightly against a basket of currency majors. The dollar index (#DX) closed yesterday's trading session in the green zone (+0.12%). US President Donald Trump said he intended to substantially raise tariffs for China if the first stage of the trade agreement was not signed. According to the President, the agreement will be signed only if it is good for American companies and workers.

The British pound weakened against the US dollar after the publication of weak economic data on the UK labor market. Thus, the average earnings + bonus grew only by 3.6% in September instead of 3.8%. Initial jobless claims rose to 33.0K in October, while experts expected 24.2K.

The New Zealand dollar has been growing after the RBNZ unexpectedly left the interest rate unchanged at 1.00% per annum. The Reserve Bank was expected to reduce the indicator due to a slowdown in the country's economy. However, the regulator noted that there was insufficient evidence to ease the policy further, so it was decided to keep interest rates at the same level.

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

Market Indicators

Yesterday, there was the bullish sentiment in the US stock markets: #SPY (+0.21%), #DIA (+0.05%), #QQQ (+0.29%).

The 10-year US government bonds yield has been declining. At the moment, the indicator is at the level of 1.88-1.89%.

The Economic News Feed for 13.11.2019:
  • - Consumer price index in the UK at 11:30 (GMT+2:00);
  • - US inflation data at 15:30 (GMT+2:00).

We also recommend paying attention to the speech by the head of the Fed.

by JustForex, 2019.11.13

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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