Investors Expect the Fed Representatives' Comments

Yesterday there was an increase in demand for the American currency against the background of the release of positive statistics and growth in the US government bonds yield. In July, the consumer confidence index increased by 3.2% to 121.1. Experts expected the indicator at the level of 116.5. The 10-year US bonds yield rose sharply to 2.33%.

Today the attention is focused on the Fed's meeting. Experts expect that the regulator will leave the interest rate range at the previous level of 1.00-1.25%. At the same time, it is necessary to follow the comments and rhetoric of the Central Bank representatives.

The Australian dollar is under pressure due to a weak inflation report. In the second quarter, Australia's consumer price index slowed to 0.2%. Market expectations were at the level of 0.4%.

In the oil market, bullish sentiments continue to prevail. During yesterday's trading session, futures for the WTI crude oil rose by more than 4%.

Market Indicators

SPY (SPDR S&P 500 ETF) has updated its historic high and closed at 247.42 USD (+0.24%).

At the moment, the 10-year US government bonds yield is at 2.32%.

The dollar index (#DX) closed in the positive zone (+0.13%).

Important economic reports on 2017.07.26:

• – The UK GDP data at 11:30 (GMT+3:00);
• – Sales of new housing in the US at 17:00 (GMT+3:00);
• – The Crude Oil Inventories in the US at 17:30 (GMT+3:00);
• – The decision on the interest rate of the Fed at 21:00 (GMT+3:00).

by JMarkets, 2017.07.26

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.