Fed Chairman Powell's Speech Is in the Focus of Attention

During yesterday's trading, the US dollar strengthened slightly against a basket of major currencies. The dollar index (#DX) closed in the green zone (+0.18%). Today, investors will be focused on the report by the US Fed Chairman Jerome Powell in Congress.

The euro fell to key lows against the US dollar. The Eurozone economy, as well as the global economy as a whole, are under pressure due to the spread of coronavirus. Yesterday, the World Health Organization (WHO) warned that the spread of cases among people who were not in China could be a "spark that becomes a bigger fire." According to recent data, the number of cases of the virus has already exceeded 42,500 people, 1,016 deaths.

The "black gold" prices have been growing. Currently, futures for the WTI crude oil are testing the $50.30 mark per barrel.

Market Indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+0.75%), #DIA (+0.60%), #QQQ (+1.21%).

The 10-year US government bonds yield increased slightly. At the moment, the indicator is at the level of 1.59-1.60%.

The Economic News Feed for 11.02.2020:
  • - UK GDP data at 11:30 (GMT+2:00);
  • - Manufacturing production in the UK at 11:30 (GMT+2:00);
  • - JOLTS job openings in the US at 17:00 (GMT+2:00).

We also recommend paying attention to the speech by Fed Chairman Powell.

by JustForex, 2020.02.11

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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