The US Dollar Is Rising Following the Oil

The US dollar has continued to grow against a basket of major currencies. The US dollar index (#DX) closed in the positive zone (+0.15). The greenback demand is still high. Oil quotes gradually win back the losses incurred since the beginning of the week. Also, investors have taken a wait-and-see attitude before the publication of the report on jobless claims in the US. It is expected that the figure will increase less than last week, but there will still be a huge flow of claims.

Today, a videoconference of EU leaders will take place, where they will try to identify EU steps in overcoming the consequences of the coronavirus pandemic. The establishment of the European Recovery Fund will be discussed. President of the European Council, Charles Michel, said the day before that the union should prepare for a phased lifting of restrictions.

The "black gold" prices are recovering. Currently, futures for the WTI crude oil are testing the $15.60 mark per barrel.

Market indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+2.22%), #DIA (+1.98%), #QQQ (+2.97%).

The 10-year US government bonds yield has not changed a lot. At the moment, the indicator is at the level of 0.61-0.62%.

The news feed on 2020.04.23:
  • - Indicators of economic activity in Germany and the Eurozone at 10:30 (GMT+3:00) and 11:00 (GMT+3:00), respectively;
  • - Indicators of economic activity in the UK at 11:30 (GMT+3:00);
  • - Initial jobless claims in the US at 15:30 (GMT+3:00);
  • - New home sales in the US at 17:00 (GMT+3:00).

by JustForex, 2020.04.23

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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