The Dollar Index Is Declining

On Friday, the US dollar weakened against the basket of major currencies. The US dollar index (#DX) closed in the negative zone (-0.79%). Strained relations in world trade continue to put pressure on the American currency. Yesterday, Canada raised duties on import of a number of the US goods. The euro strengthened after Angela Merkel gained support from 14 EU countries on the issue of accelerated deportation of migrants from Germany who are registered in other EU countries. The pound was supported by the optimistic data on the country's GDP.

This week, important economic news is in the focus of investors' attention. The publication of the FOMC protocols, which may indicate further pace in the key interest rate rise will be the main event. On Friday, reports on the labor market in the US and Canada for June will be released.

The "black gold" prices are moderately declining after a significant growth last week. At the moment, futures for the WTI crude oil are testing a mark of $73.50 per barrel.

Market Indicators

On Friday, the bullish sentiment was observed in the US stock market: #SPY (+0.14%), #DIA (+0.27%), #QQQ (+0.27%).

At the moment, the 10-year US government bonds yield is at the level of 2.84-2.85%.

The news feed on 2018.07.02:

- The index of economic activity in the manufacturing sector in Germany at 10:55 (GMT+3:00);
- The index of economic activity in the manufacturing sector in the UK at 11:30 (GMT+3:00);
- The ISM manufacturing purchasing managers index at 17:00 (GMT+3:00).

by JustForex, 2018.07.02

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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