Concerns Over the Settlement of the Trade Conflict Are Growing. Investors Assess the FOMC Meeting Minutes

The US dollar is being traded stably against major competitors. Yesterday, the dollar index (#DX) closed the trading session with a slight increase (+0.06%). According to the FOMC meeting minutes, if there are no significant changes in the economy, further reduction of the Fed key interest rate will not be required. It should be recalled that this year the Central Bank lowered its key interest rate three times. At the moment, the indicator is at the level of 1.50%-1.75%.

Investors are worried that the conclusion of a phase one trade agreement between Washington and Beijing may be postponed to next year amid growing disagreements. The US House of Representatives has approved a bill aimed at supporting protesters in Hong Kong. In turn, Beijing criticized these legislative measures, promising to retaliate. These events support the demand for safe haven currencies. Today, investors will assess some important economic releases from the Eurozone and the United States.

The "black gold" prices are consolidating. Currently, futures for the WTI crude oil are testing the $56.85 mark per barrel.

Market Indicators

Yesterday, sales prevailed in the US stock markets: #SPY (-0.37%), #DIA (-0.40%), #QQQ (-0.60%).

The 10-year US government bonds yield has moved away from local lows. At the moment, the indicator is at the level of 1.75-1.76%.

• - Publication of the ECB monetary policy meeting account at 14:30 (GMT+2:00);
• - Initial jobless claims in the US at 15:30 (GMT+2:00);
• - Philadelphia Fed manufacturing index at 15:30 (GMT+2:00);
• - Existing home sales in the US at 17:00 (GMT+2:00).

by JustMarkets, 2019.11.21

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.