The Dollar Index Has Become Stable. Coronavirus Is Still in the Spotlight

The US dollar has become stable against a basket of major currencies. The dollar index (#DX) is consolidating near local highs. Yesterday, Fed Chairman Powell gave a speech for Congress again. The official said that the Fed had little reason to cut rates, as the country's economy was in good condition despite the spread of coronavirus.

Today, markets are under pressure after China's Hubei province reported nearly 15,000 new cases of the disease, as the method of counting infected people has changed. At the same time, the number of deaths in the province increased by a record 242 to 1.310. These events support the "safe haven" currencies. The single currency has reached two-year lows.

The "black gold" prices are moving in different directions. Currently, futures for the WTI crude oil are testing the $50.85 mark per barrel.

Market Indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+0.64%), #DIA (+0.95%), #QQQ (+0.97%).

The 10-year US government bonds declined. At the moment, the indicator is at the level of 1.58-1.59%.

The Economic News Feed for 13.02.2020:
  • - Data on inflation in the US at 15:30 (GMT+2:00);
  • - Initial jobless claims in the US at 15:30 (GMT+2:00).

by JustForex, 2020.02.13

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.

Open Account

Get Free Analytics

* required fields