The Dollar Index Fell. The Attention Is Focused on Political Events

Yesterday, the major currency pairs showed a variety of trends. The dollar index (#DX) closed the trading session with a slight decrease (-0.15%). Uncertainty in the market remains. The problems with the tax reform and the growth of geopolitical risks on the Korean peninsula put pressure on the US dollar. At the same time, the fall in the US currency was moderate amid optimistic economic reports. Over the past week, the number of initial jobless claims fell by 2,000 to 238,000. In November, the index of business activity in Chicago was 63.9, which is higher than market expectations at 63.0.

The bullish sentiment prevails on the GBP/USD currency pair. Rumors about the possible conclusion of agreements on the terms of Brexit support the pound. Today, a number of important economic reports from the UK, the Eurozone, the US and Canada will be published. We also recommend paying attention to the dynamics of the US government bonds yield.

The OPEC+ countries decided to extend the validity of the deal to reduce the extraction of raw materials before the end of 2018. At the moment, the "black gold" prices show a positive trend. Futures for the WTI crude oil are testing a mark of $ 57.75 per barrel.

Market Indicators

The main US stock indexes again updated historical highs. Yesterday #SPY (SPDR S&P 500 ETF) closed at $265.01 (+0.88%).

The 10-year US government bonds yield moved away a little bit from local highs. At the moment, the indicator is at the level of 2.40-2.41%.

The news feed on 2017.12.01:

- Statistics on business activity in the manufacturing sector of the Eurozone at 11:00 (GMT+2:00);
- The index of business activity in the manufacturing sector of the UK at 11:30 (GMT+2:00);
- Reports on the labor market and the GDP of Canada at 15:30 (GMT+2:00);
- The index of business activity in the manufacturing sector of the US from ISM at 17:00 (GMT+2:00).

by JustForex, 2017.12.01

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.

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