Currency Majors Show Mixed Trends. We Expect US economic releases

The US dollar is being traded without significant changes against a basket of currencies. Yesterday, the dollar index (#DX) closed in the negative zone (-0.07%). Investors also expect important US economic statistics to be released today.

Persisting optimism regarding the early resolution of the US-China trade conflict supports the US dollar. Donald Trump said the night before that Washington was in the final stages of work on a trade agreement with China, after a telephone conversation between representatives of both countries on Tuesday.

At the same time, the US President drew attention to the fact that the United States intended to support the protesters in Hong Kong, and it could strain relations with China. It should be also recalled that Washington will impose additional duties on Chinese imports on December 15, if both sides do not reach an agreement by this time.

The "black gold" prices show positive dynamics. Currently, futures for the WTI crude oil are testing the $58.55 mark per barrel. At 17:30 (GMT+2:00), US crude oil inventories will be published.

Market Indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+0.23%), #DIA (+0.20%), #QQQ (+0.19%).

The 10-year US government bonds yield has decreased slightly. At the moment, the indicator is at the level of 1.74-1.75%.

The Economic News Feed for 27.11.2019:
  • - Core durable goods orders in the US at 15:30 (GMT+2:00);
  • - US GDP data at 15:30 (GMT+2:00);
  • - Pending home sales in the US at 17:00 (GMT+2:00);
  • - Fed's Beige Book at 21:00 (GMT+2:00).

by JustForex, 2019.11.27

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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