Conflict Between the US and Turkey Is in the Spotlight

The US currency is being traded near annual highs. Yesterday, the US dollar index (#DX) closed the trading session with a slight decrease (-0.02%). Conflict between the US and Turkey is still in the spotlight. Ankara took retaliatory measures and imposed duties on a number of American goods. The Japanese yen has started increasing, as demand for safe assets rises in the period of financial instability. At the moment, the currency majors are consolidating.

Yesterday, economic data were published in the United Kingdom and the United States. So, the consumer price index in the UK counted to 2.5% in July, as investors expected. The core retail sales index in the US counted to 0.6% in July and was above the forecasted value of 0.4%. The volume of retail sales in the US rose by 0.5% in July instead of 0.2%. Today, during the Asian trading session, mixed data on the labor market have been published in Australia.

The "black gold" prices began to recover after a sharp decline during yesterday's trading. At the moment, futures for the WTI crude oil are testing a mark of $65.15 per barrel.

Market Indicators

Yesterday, the bearish sentiment was observed in the US stock market: #SPY (-0.75%), #DIA (-0.57%), #QQQ (-1.22%).

At the moment, the 10-year US government bonds yield is at the level of 2.86%-2.87%.

The news feed on 2018.08.16:

- Report on retail sales in the UK at 11:30 (GMT+3:00);
- Statistics on the real estate market in the US at 15:30 (GMT+3:00);
- Philadelphia Fed manufacturing index at 15:30 (GMT+3:00).

by JustForex, 2018.08.16

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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