The US dollar fell against major world currencies

At the moment, the US currency is under pressure. This is due to the publication of weak economic reports and a decrease in the yield of the US government bonds.

The Eurozone GDP growth came up to market expectations and amounted to 1.7% (year on year). The euro was also supported by positive statistics on the balance of visible trade and the index of economic sentiment from ZEW in the euro area.

According to Office for National Statistics of Great Britain, on a year-on-year basis, the inflation in the country increased to 2.7%. The growth of the indicator is caused mainly by the weakening of the pound. Participants of the financial markets are expecting a report on the UK labor market.

The commodity currencies are supported by a correction in the market of "black gold". Over the past week, WTI crude oil futures have risen in price by more than 2%.

Market indicators

The US stock market continues to show positive dynamics. At the moment #SPY (ETF SPDR S&P 500) is trading at its historical highs. Yesterday's trading ended at 240.08 USD.

The yield of the 10-year US government bonds shows downward dynamic. At the moment the indicator is at the level of 2.29%.

During yesterday's trading, the dollar index fell by 0.81%.

It is necessary to pay attention to the following events:

  • – at 11:30 (GMT+3:00) a number of statistics on the UK labor market will be released;
  • – the consumer price index in the Eurozone (12:00 GMT+3:00);
  • – sales in the manufacturing sector of Canada (15:30 GMT+3:00).
We recommend 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.