The US Dollar Is in the Positive Zone

Last week, the greenback strengthened against a basket of major currencies. The dollar index (#DX) closed on Friday in the green zone (+0.33%). The United States published rather optimistic statistics and pointed to the steady growth of the country's economy. Thus, in the third quarter, the GDP indicator (q/q) grew by 2.1%, which met experts' expectations. On Saturday, US President D. Trump said that Washington and Beijing would soon sign the phase one trade agreement.

The Australian and New Zealand dollars rose after it became known that China would cut import duties on goods from January 1, 2020. The plan, approved by the Chinese government, provides for a reduction in duties of more than 800 types of goods imported by China from various countries. The plan also provides for an additional reduction from the beginning of next year of import duties on more than 8,000 goods from 23 countries that have a free trade agreement with China, including Australia, South Korea, Iceland, New Zealand and Pakistan.

The "black gold" prices are declining after a continuous rally. At the moment, futures for the WTI crude oil are testing the $60.35 mark per barrel.

Market Indicators

On Friday, there was a variety of trends in the US stock market: #SPY (-0.05%), #DIA (+0.00%), #QQQ (+0.40%).

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

The Economic News Feed for 23.12.2019:
  • - Durable goods orders at 15:30 (GMT+2:00);
  • - Statistics on GDP in Canada at 15:30 (GMT+2:00);
  • - New home sales in the US at 17:00 (GMT+2:00).

by JustForex, 2019.12.23

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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