The US Dollar Has Recovered some of the Losses

During yesterday's trading, the US dollar rose slightly against the basket of major currencies. The US dollar index (#DX) closed in the positive zone (+0.13%). The US currency strengthened due to the weakness of other currencies. Thus, the Canadian dollar fell significantly after the publication of weak data on Canada's GDP. The index counted to 0.0% in June, while investors expected a value of 0.1%. The single currency has moved away from the monthly highs. This movement was mostly caused by technical factors.

The Japanese yen is strengthening against the US dollar, as demand for safe assets has increased again. Today, the base consumer price index was published in Tokyo, which counted to 0.9% and was above the expected value of 0.8%. Also, the index of economic activity in the non-manufacturing sector of China was released, its value was 51.3 instead of the predicted value of 51.0. We expect economic statistics from the Eurozone.

The "black gold" prices are rising. At the moment, futures for the WTI crude oil are testing a mark of $70.25 per barrel.

Market Indicators

Yesterday, the bearish sentiment was observed in the US stock market: #SPY (-0.40%), #DIA (-0.51%), #QQQ (-0.18%).

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

The news feed on 31.08.2018:

- The consumer price index in the Eurozone at 12:00 (GMT+3:00).

by JustForex, 2018.08.31

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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