The US Dollar Is Consolidating

The US dollar is consolidating against a basket of major currencies. The dollar index (#DX) closed yesterday in the negative zone (-0.05%). Investors expect the Fed meeting, which will be held tomorrow on December 11. At the meeting, the regulator will decide on the key interest rate. The interest rate is expected to remain unchanged at 1.75-2.00%. In addition, financial markets continue to follow the news regarding trade negotiations between the US and China.

Today, important economic data will be published in the UK. In general, investors have taken a wait-and-see attitude before the parliamentary elections on December 12. UK elections will be a decisive factor for the British pound.

The "black gold" prices are falling amid uncertainty in the trade conflict between China and the US. Currently, futures for the WTI crude oil are testing the $59.15 mark per barrel. At 23:30 (GMT+2:00), API weekly crude oil stock will be published.

Market Indicators

Yesterday, there was the bearish sentiment in the US stock market: #SPY (-0.31%), #DIA (-0.33%), #QQQ (-0.45%).

The 10-year US government bonds yield has decreased slightly. At the moment, the indicator is at the level of 1.81-1.82%.

The Economic News Feed for 10.12.2019:
  • - UK GDP data at 11:30 (GMT+2:00);
  • - Manufacturing production in the UK at 11:30 (GMT+2:00);
  • - German ZEW economic sentiment index at 12:00 (GMT+2:00).

by JustForex, 2019.12.10

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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