The Currency Majors Showed Mixed Results

Yesterday, the major currency pairs showed mixed results. The dollar index (#DX) closed the trading session with a slight increase (+0.15%). The US currency was supported by the growth of the US government bonds yield. At the moment, the US dollar has moved away from local extremes.

USD/JPY updated a 3-month high, as financial market participants expect the central bank of Japan to adhere to a stimulating monetary policy. The Canadian dollar continued to lose ground against the US dollar. In August, the volume of wholesale sales in Canada increased by 0.5%, which is less than the forecasted value of 0.6%. The single currency remains under pressure amid political uncertainty in Spain. We recommend you to keep track of up-to-date information on potential candidates for the Fed's Chairman.

At the moment, the "black gold" prices are consolidating. Futures for the WTI crude oil are being traded near $52 per barrel. Investors expect a preliminary report on the weekly crude oil inventories in the US from the American Petroleum Institute.

Market Indicators

Yesterday, the major US stock indexes moved away from historical highs: #SPY (-0.39%), #DIA (-0.21%), #QQQ (-0.65%).

The 10-year US government bonds yield continues to show positive dynamics. At the moment, the indicator is at the level of 2.38-2.39%.

The economic calendar for 2017.10.24:

- A number of indices of business activity in Germany and the Eurozone at 10:30 (GMT+3:00) and 11:00 (GMT+3:00), respectively;
- Statistics on business activity in the US at 16:45 (GMT+3:00).

by JustForex, 2017.10.24

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.