The American Currency Declines after the News of Trump's Illness. The US Labor Market Report Is in the Spotlight

The US dollar is declining against a basket of major currencies. The US currency is under pressure after it has become known that US President Donald Trump and his wife Melania Trump have got the coronavirus according to Trump's Twitter. The US dollar index (#DX) has upgraded its local minimums again. The spouses are quarantined and begin the recovery process. The president's quarantine excludes his participation in the planned pre-election events. It should be recalled that the presidential elections in the United States are to be held on November 3, 2020.

Quite mixed economic data from the US was released yesterday. Thus, the number of initial applications for unemployment benefits was 837K, while experts predicted 850K. The ISM Manufacturing Business Activity Index (PMI) was 55.4 in September and was below the forecasted value of 56.4. Today, all attention will be focused on the report on the US labor market for September. We recommend you to pay attention to the difference between the actual and forecasted values of indicators.

The "black gold" prices are falling sharply. Investors are concerned about the demand. At the moment, futures for the WTI crude oil are testing $37.00 per barrel.

Market indicators

Bullish sentiments were observed on the US stock market yesterday: #SPY (+0.64%), #DIA (+0.23%), #QQQ (+1.59%).

The yield on 10-year US government bonds is consolidating. The indicator has reached 0.66-0.67%.

• - Consumer Price Index in the eurozone at 12:00 (GMT+3:00);
• - Change in the number of people employed in the US non-farm sector at 15:30 (GMT+3:00);
• - The US unemployment rate at 15:30 (GMT+3:00);
• - University of Michigan Consumer Sentiment and Expectations Index at 17:00 (GMT+3:00).

by JustMarkets, 2020.10.02

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.