The US Currency Is Under Pressure

The US dollar is declining against a basket of currency majors due to uncertainty concerning the new package of measures to help the US economy. The US dollar index (#DX) closed Friday's trading session in the red zone (-0.25%). Concerns about the recovery of the US economy and the growth of political tensions put pressure on the American currency. The White House continues to restrict the activities of Chinese companies in the United States. So, in addition to banning the TikTok mobile app, the activities of the e-commerce giant Alibaba can also be banned.

On Friday, ambiguous economic statistics were published in the United States. So, the core retail sales index rose by 1.9%, while experts forecasted growth by 1.3%. At the same time, the volume of retail sales increased by 1.2% instead of 1.9%. Japan reported that the country's GDP fell by 7.8% in the second quarter.

The "black gold" prices have been growing after the decline on Friday. At the moment, futures for the WTI crude oil are testing the $41.90 mark per barrel.

Market indicators

On Friday, there was a variety of trends in the US stock market: #SPY (+0.00%), #DIA (+0.14%), #QQQ (-0.12%).

The 10-year US government bonds yield is growing. At the moment, the indicator is at the level of 0.70-0.71%.

The news feed for 2020.08.17:
  • Publication of important economic news is not expected today.

by JustForex, 2020.08.17

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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