Demand for the American Currency Has Grown Significantly

Last week, trades on the majors were very active. At the same time, a unidirectional trend was not observed. The US currency has kept the current levels. The dollar index (#DX) closed the week with a slight increase (+0.14%). At the moment, the demand for the dollar has grown significantly. On Saturday, the US Senate approved a bill draft on the tax reform. A key event in the current trading week will be the publication of a report on the labor market in the United States.

Today, the news background will be fairly calm. The attention is focused on the economic reports from the United Kingdom and the United States. We also recommend following the dynamics of the government bonds yield. Demand for the Canadian dollar remains at a very high level. On Friday, December 1, positive reports on the labor market and the GDP of Canada were published.

Correction in the market of "black gold" continued. An increase in drilling activity in the United States put pressure on the oil quotes. At the moment, futures for the WTI crude oil are being traded near $58 per barrel.

Market Indicators

On Friday, the major US stock indices closed in the negative zone: #SPY (-0.21%), #DIA (-0.16%) and #QQQ (-0.43%).

In the Asian trading session, the 10-year US government bonds yield increased significantly. At the moment, the indicator is at the level of 2.40-2.41%.

The news feed on 2017.12.04:

- The index of business activity in the construction sector in the UK at 11:30 (GMT+2:00);
- The volume of industrial orders in the US at 17:00 (GMT+2:00).

by JustForex, 2017.12.04

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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