The US Currency Remains Under Pressure

Yesterday, the US dollar continued to lose ground relative to major world currencies. Mixed statistics on the US economy raises doubts among investors that the Fed will raise the range of key interest rates this year. The growth of the country's economy in the first quarter was revised from 1.2% to 1.4%. At the same time, the GDP deflator was 1.9% compared to the forecasted value of 2.2%. The number of initial claims for unemployment benefits increased from 242K to 244K. At the moment, the probability of an increase in the Fed's interest rate in December 2017 is 47.3%.

In the Asian trading session, the Australian dollar gained support against the backdrop of positive statistics from China. In June, the index of business activity in the manufacturing sector of the country increased from 51.2 to 51.7.

The correction in the market of "black gold" continues. At the moment, futures for the WTI mark oil exceeded the mark of 45.00 USD.

Market Indicators

Yesterday, US stock indices closed in the negative zone due to a sharp decline in the technology sector.

The 10-year US government bonds yield continues to show positive dynamics. At the moment the indicator is at the level of 2.28-2.29%.

The dollar index (#DX) fell by 0.44%.

Today, the following economic reports are focused on:

  • - Statistics on the labor market in Germany - 10:55 (GMT+3:00);
  • - The UK GDP data - 11:30 (GMT+3:00);
  • - The consumer price index in the Eurozone - 12:00 (GMT+3:00);
  • - Statistics on individuals spendings in the US - 15:00 (GMT+3:00);
  • - Canada's GDP data - 15:30 (GMT+3:00).
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.