The US Dollar Is Still Under Pressure. The Likelihood of an Early Resolution of the China-US Trade Conflict Is Low

The US dollar continued to decline against a basket of major currencies due to geopolitical uncertainty. On Friday, the dollar index (#DX) closed in the negative zone (-0.21%). As it became known, China is very pessimistic about trade relations with the United States. The Chinese government negatively perceived the fact that US President D. Trump may refuse to cancel tariffs previously imposed for China. Also, the government is focused on the country's domestic problems, such as the protests in Hong Kong and the deterioration of the economy. Therefore, the situation in the trade dispute is unlikely to be resolved soon.

The British pound strengthened against the US currency. At the weekend, a public poll was conducted to find out what political power the UK population supports. According to the survey, the majority supports the ruling party and the policy of British Prime Minister Boris Johnson.

The "black gold" prices have decreased slightly. Currently, futures for the WTI crude oil are testing the $56.70 mark per barrel. At 23:30 (GMT+2:00), API weekly crude oil stock will be published.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock markets: #SPY (+0.07%), #DIA (+0.12%), #QQQ (+0.08%).

The 10-year US government bonds yield has decreased slightly. At the moment, the indicator is at the level of 1.82-1.83%.

The Economic News Feed for 19.11.2019:
  • - Statistics on the real estate market in the US at 15:30 (GMT+2:00).

by JustForex, 2019.11.19

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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