The US Currency Is Declining

The US dollar is declining against currency majors. The US dollar index closed in the red zone (-0.61%). White House Trade Adviser Peter Navarro said his comments that the deal with China would not take place were taken out of context and had nothing to do with the truth. US President Donald Trump also said, in turn, that the phase one trade deal with China remains fully in force. Also, yesterday, the Washington administration announced the development of a new $1 trillion stimulus package.

Meanwhile, the number of infected with COVID-19 is growing almost exponentially. On Sunday, WHO reported a record increase in the number of infections worldwide. During the day, 183.020 new cases were recorded. At the moment, the number of infected has exceeded 9 million people.

The "black gold" prices continue to rise. Currently, futures for the WTI crude oil are testing the $41.50 mark per barrel. At 23:30 (GMT+3:00), API weekly crude oil inventories will be published.

Market indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+0.64%), #DIA (+0.59%), #QQQ (+1.02%).

The 10-year US government bonds yield is consolidating. At the moment, the indicator is at the level of 0.72-0.73%.

The news feed on 2020.06.23:
  • - German services PMI at 10:30 (GMT+3:00);
  • - Composite PMI in the UK at 11:30 (GMT+3:00);
  • - New home sales in the US at 17:00 (GMT+3:00).

We also recommend paying attention to the speeches by the Bank of England Governor Bailey and the British Prime Minister Johnson.

by JustForex, 2020.06.23

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.

Open Account

Get Free Analytics

* required fields