The Demand for Safe Assets Is Still High

The greenback continued its growth against its main competitors. The dollar index (#DX) has updated local highs and closed in the green zone (+0.45%). The demand for safe assets is still quite high due to the renewed increase in the incidence of COVID-19 in many countries of the world, as well as the slowdown in economic activity in the Eurozone.

The Central banks of New Zealand and Switzerland, as expected, kept the key marks of monetary policy at the same levels. Today, financial market participants will assess some important economic releases from Germany and the US. Investors will also follow the speech by the Fed Chairman.

The "black gold" prices continue to consolidate. At the moment, futures for the WTI crude oil are testing the $40.05 mark per barrel.

Market indicators

Yesterday, there were aggressive sales in the US stock market: #SPY (-2.32%), #DIA (-1.92%), #QQQ (+3.05%).

The 10-year US government bonds yield is consolidating. The indicator is at the level of 0.67-0.68%.

The news feed for 2020.09.24:
  • - German IFO business climate index at 11:00 (GMT+3:00);
  • - Initial jobless claims in the US at 15:30 (GMT+3:00);
  • - Speech by the Fed Chairman Jerome Powell at 17:00 (GMT+3:00);
  • - New home sales in the US at 17:00 (GMT+3:00).

by Justforex, 2020.09.24

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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