The US dollar is decreasing relative to the basket of the major currencies against the strengthening of international trading tension and the White House reorganization. These events caused an increase in the demand for safe assets. At the same time, the fall in the US currency was restrained due to rather optimistic economic reports. The dollar index (#DX) closed with a small plus (+0.12%) yesterday.
In February, the core retail sales index accelerated to 0.2% from 0.1% despite a slowdown in the growth of wages and consumer prices in the country. The producer price index was 0.2%, which is higher than market expectations at 0.1%. This statistics supports the US currency. The ECB head Mario Draghi also made a speech. The official said that the regulator planned to adhere to the current rate of monetary policy.
At the moment, the "black gold" prices are consolidating. Futures for the WTI crude oil are being traded near $61 per barrel.
Yesterday, the major stock indices in the US closed in the negative zone: #SPY (-0.51%), #DIA (-0.94%), #QQQ (-0.02%).
At the moment, the 10-year US government bonds yield is at the level of 2.81-2.82%.
- Interest rate decision of the Central Bank of Switzerland at 10:30 (GMT+2:00);
- Philadelphia Fed Manufacturing Index at 14:30 (GMT+2:00);
- ADP Nonfarm Employment Change at 14:30 (GMT+2:00).
by 2018.03.15, 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.