Yesterday, the US dollar lost its achievements due to ambiguous economic reports. In July, the expenditures of individuals increased by 0.3%, which is less than the forecasted value of 0.4%. The index of pending sales in the real estate market decreased by 0.8%. Experts expected the growth rate of 0.5%. At the same time, the index of business activity in Chicago exceeded market expectations (58.5) and amounted to 58.9. Inflation in the US remains at a fairly low level.
The Canadian dollar strengthened significantly against the US currency. The fall in the USD/CAD quotations exceeded 150 points. Statistics Canada said that the country's GDP growth in the second quarter (year on year) was 4.5% compared with the forecasted value of 3.7%. It is not excluded that in the near future the Bank of Canada can go towards another increase in the interest rate.
Today investors' attention is focused on the report on the labor market in the United States. It should be recalled that the preliminary data from ADP was quite optimistic.
Major US stock indices continue to show positive dynamics: #SPY (+0.60%), #DIA (+0.27%), #QQQ (+1.07%).
At the moment, the 10-year US government bonds yield is at the level of 2.12-2.13%.
The dollar index (#DX) closed the trading session in the negative zone (-0.25%).
Today we recommend you to pay attention to the following economic reports:
- – Data on business activity in the manufacturing sector of Germany and the Eurozone at 10:55 (GMT+3:00) and 11:00 (GMT+3:00), respectively;
- – The index of business activity in the manufacturing sector of the UK at 11:30 (GMT+3:00);
- – The report on the labor market in the USA at 15:30 (GMT+3:00);
- – The index of business activity in the manufacturing sector of the US from ISM at 17:00 (GMT+3:00).
by 2017.09.01, 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.