Currency Majors Are Consolidating. Investors Are Concerned About the COVID-19 Epidemic

The greenback shows a variety of trends against a basket of currency majors. The US dollar index (#DX) is holding local lows. Yesterday, the ECB, as expected, has kept the key marks of monetary policy at the same level. The US has published optimistic economic releases. In June, retail sales rose by 7.5% compared to the forecasted value of 5.0%. Philadelphia Fed manufacturing index counted to 24.1, which is higher than market expectations at 20.0.

Investors are concerned about the growing number of people infected with COVID-19. On Thursday, the US reported more than 77,000 new cases of coronavirus, breaking the daily record. Several states have reintroduced restrictive measures. At the moment, the number of people infected with coronavirus has reached 13.81 million worldwide. Today, statistics on the US real estate market are in the spotlight.

The "black gold" prices have been declining. At the moment, futures for the WTI crude oil are testing the $40.50 mark per barrel. At 20:00 (GMT+3:00), Baker Hughes US rig count will be published.

Market indicators

Yesterday, there was the bearish sentiment in the US stock market: #SPY (-0.33%), #DIA (-0.54%), #QQQ (-0.68%).

The 10-year US government bonds yield is consolidating. At the moment, the indicator is at the level of 0.60-0.61%.

The news feed for 2020.07.17:
  • - Consumer price index in the Eurozone at 12:00 (GMT+3:00);
  • - Statistics on the US real estate market at 15:30 (GMT+3:00).

by JustForex, 2020.07.17

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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