The Dollar Index Has Become Stable. Investors Expect the Fed Meeting

During yesterday's trading session, the greenback continued to lose ground relative to its main competitors. The dollar index (#DX) has updated its key lows again. At the moment, the US dollar is stable. Financial market participants have started partially fixing their positions before the Fed meeting.

The regulator is expected to keep interest rates unchanged. At the same time, the Central Bank may signal an increase in economic stimulus. On Monday, Senate Republicans unveiled a $1 trillion stimulus plan for the economy with the White House, laying the groundwork for negotiations with Democrats. We recommend following the latest information on this issue. Investors will assess US economic reports today.

Oil quotes continue to consolidate. At the moment, futures for the WTI crude oil are testing the $41.50 mark per barrel. We recommend paying attention to the API weekly crude stock at 23:30 (GMT+3:00).

Market indicators

Yesterday, there were purchases in the US stock market: #SPY (+0.73%), #DIA (+0.48%), #QQQ (+1.78%).

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

The news feed for 2020.07.28:
  • - CB consumer confidence index in the US at 17:00 (GMT+3:00).

by JustForex, 2020.07.28

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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