The Dollar Index Has Continued to Grow. The ECB Meeting Is in the Focus of Attention

Yesterday, the US dollar continued to strengthen relative to the basket of major currencies against the 10-year US government bonds yield growth. For the first time in a long period, the indicator exceeded the 3% mark. Such an increase in the government bonds yield was due to the growing inflation expectations and the prospects for raising the Fed's interest rates. The US dollar index (#DX) closed in the positive zone (+0.54%) yesterday. Financial market participants are expecting a report on the US GDP, which will be published on Friday.

Today, the ECB meeting will be the key event. At the moment, investors took a wait-and-see attitude before the decision of the Central Bank. The latest statistics on the economy of the Eurozone was ambiguous. No change in the ECB monetary policy is expected, but it is worth paying attention to the comments of Mario Draghi, which may affect the euro rate.

The "black gold" prices recouped most of the losses after a sharp drop at the beginning of this week. At the moment, futures for the WTI crude oil are testing a mark of $68.25 per barrel.

Market Indicators

Yesterday, the major US stock indices closed in the positive zone: #SPY (+0.25%), #DIA (+0.25%), #QQQ (+0.12%).

At the moment, the 10-year US government bonds yield is at the level of 3.02-3.03%.

- The ECB interest rate decision at 14:45 (GMT+3);
- A report on core durable goods orders in the US at 15:30 (GMT+3).

by JustMarkets, 2018.04.26

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.