The Fed Meeting Is in the Spotlight

The US currency continues to lose ground against a basket of world currencies. The dollar index (#DX) has updated key lows. In July, the CB consumer confidence index in the US slowed down from 98.3 to 92.6. Demand for the US dollar is still low amid growing doubts about a rapid economic recovery due to the outbreak in new cases of coronavirus in the United States.

At the moment, the greenback is stable. Financial market participants have taken a wait-and-see attitude before the Fed decision. It is expected that the regulator will keep the key marks of monetary policy at the same level. We recommend paying attention to the comments by the representatives of the Central Bank.

The "black gold" prices have been growing. At the moment, futures for the WTI crude oil are testing the $41.45 mark per barrel. We recommend paying attention to the EIA crude oil inventories at 17:30 (GMT+3:00).

Market indicators

Yesterday, there were purchases in the US stock market: #SPY (-0.63%), #DIA (-0.76%), #QQQ (-1.27%).

The 10-year US government bonds yield has become stable after a sharp drop. At the moment, the indicator is at the level of 0.58-0.59%.

The news feed for 2020.07.29:
  • - Pending home sales in the US at 17:00 (GMT+3:00);
  • - Fed interest rate decision at 21:00 (GMT+3:00).

by JustForex, 2020.07.29

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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