The Greenback Is Losing Ground Against its Main Competitors

The greenback has been declining against a basket of world currencies. The dollar index (#DX) has updated monthly lows. The demand for risky assets has grown significantly amid optimism about a new stimulus package in the US. Speaker of the US House of Representatives Nancy Pelosi reported progress in negotiations with the White House. US President Donald Trump says that he is ready to pass a major financial aid bill. We recommend following up-to-date information on this issue.

Financial markets are still under pressure due to the rapid spread of the COVID-19 epidemic. At the moment, the number of infected in the world has approached 42 million. Investors also expect new information on the Brexit issue. The Reserve Bank of Australia does not rule out the introduction of additional monetary incentives to support the labor market and the economy. Today, investors will assess the Fed's "Beige Book."

The "black gold" prices have been declining. At the moment, futures for the WTI crude oil are testing the $41.00 mark per barrel. We recommend paying attention to the EIA crude oil inventories at 17:30 (GMT+3:00).

Market indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+0.40%), #DIA (+0.33%), #QQQ (+0.21%).

The US government bonds yield shows a positive trend. The indicator has reached 0.80-0.81%.

The news feed for 2020.10.21:
  • - Data on inflation and retail sales in Canada at 15:30 (GMT+3:00);
  • - The Fed's "Beige Book" at 21:00 (GMT+3:00).

by Justforex, 2020.10.21

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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