The Fed Left the Interest Rate Unchanged. The BoE Meeting Is in the Focus of Attention

The US dollar slightly strengthened against the basket of major currencies. Yesterday, the Fed left the interest rate unchanged at 1.75-2.00%, as experts supposed. The regulator noted the stable growth of the US economy. Demand for the American currency is still high. The US dollar index (#DX) closed in the positive zone (+0.19%).

Yesterday, economic data were also published in the Eurozone, the United Kingdom and the United States. So, the index of economic activity in the manufacturing sector in Germany counted to 56.9 in July and was worse than the forecasted value of 57.3. The index of economic activity in the UK manufacturing sector counted to 54.0 in July, while experts expected 54.2. ADP nonfarm employment change in the US rose to 219K in July instead of the forecasted value of 186K. The index of economic activity in the US manufacturing sector from the ISM counted to 58.1 in July, although investors expected 59.4. Today, financial market participants took a wait-and-see attitude before the Bank of England interest rate decision.

The "black gold" prices are recovering after a sharp fall the day before. At the moment, futures for the WTI crude oil are testing a mark of $67.80 per barrel.

Market Indicators

Yesterday, there was a variety of trends in the US stock market: #SPY (-0.17%), #DIA (-0.42%), #QQQ (+0.38%).

At the moment, the 10-year US government bonds yield is at the level of 2.98-2.99%.

The news feed on 2018.08.02:

- The index of economic activity in the UK construction sector at 11:30 (GMT+3:00);
- Bank of England interest rate decision and inflation report at 14:00 (GMT+3:00).

by JustForex, 2018.08.02

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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