The US Dollar Is Consolidating

During yesterday's trading session, the US dollar remained unchanged relative to the basket of major currencies. The dollar index (#DX) closed yesterday with a slight decrease (-0.02%). Financial market participants expect the signing of an interim trade agreement between Washington and Beijing. At the same time, the Chinese yuan has been growing after the US removed the country from the list of currency manipulators. On Wednesday, Chinese Vice Premier Liu He should sign a partial US deal in Washington.

The British pound is under pressure after the release of weak statistics on GDP and manufacturing production in the UK. So, GDP (m/m) decreased by 0.3%. The volume of manufacturing production decreased in November by 1.7%, while experts expected a decline by 0.3%. Meanwhile, the monthly GDP 3m/3m grew by 0.1%, while investors forecasted a decline of 0.1%.

The "black gold" prices are rising due to protests in Iran. Currently, futures for the WTI crude oil are testing the $58.35 mark per barrel.

Market Indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+0.69%), #DIA (+0.27%), #QQQ (+1.15%).

The 10-year US government bonds yield has declined. At the moment, the indicator is at the level of 1.83-1.84%.

The Economic News Feed for 14.01.2020:
  • - US inflation report at 15:30 (GMT+2:00).

by JustForex, 2020.01.14

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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