The US Dollar Is in the Positive Zone After the Publication of Statistics

The US currency strengthened against a basket of major currencies. The dollar index (#DX) closed yesterday in the green zone (+0.11%). Optimistic data on the US economy were published yesterday, which supported the greenback. Thus, core retail sales grew by 0.7% in December, while experts expected growth only by 0.5%. Philadelphia Fed manufacturing index counted to 17.0 in January instead of 3.8. Retail sales rose by 0.3% in December, which met experts' expectations.

Today, during the Asian trading session, optimistic economic data from China have been published. So, GDP (YoY) in the 4th quarter counted to 6.0%, which met the forecasts. Industrial production (YoY) grew by 6.9% in December instead of the forecasted growth by 5.9%.

The "black gold" prices are rising. Currently, futures for the WTI crude oil are testing the $58.60 mark per barrel. At 20:00 (GMT+2:00), U.S. Baker Hughes Total Rig Count will be published.

Market Indicators

Yesterday, there were purchases in the US stock market: #SPY (+0.83%), #DIA (+0.89%), #QQQ (+0.96%).

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

The Economic News Feed for 17.01.2020:
  • - Retail sales in the UK at 11:30 (GMT+2:00);
  • - Consumer price index in the Eurozone at 12:00 (GMT+2:00);
  • - Statistics on the real estate market in the US at 15:30 (GMT+2:00);
  • - JOLTS job openings in the US at 17:00 (GMT+2:00).

by JustForex, 2020.01.17

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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