The Currency Majors Show a Variety of Trends

Last week, trades on major currency pairs were quite active. The currency majors showed a variety of trends. The dollar index (#DX) closed the trading week in the negative zone. Ambiguous economic reports and disagreements in the draft laws on the tax reform between the Senate and the US House of Representatives put pressure on the American currency. At the moment, the financial market participants expect additional drivers. The attention this week will be focused on the publication of the FOMC protocols, which may indicate the further pace of increase in the range of the Fed's key interest rate.

The single currency is under pressure due to the growth of political risks in Germany. The Chancellor of Germany Angela Merkel said that negotiations on the creation of a coalition government were unsuccessful. Today, the publication of important economic reports is not planned. We recommend paying attention to the yield of US government bonds.

At the moment, prices for "black gold" are consolidating after a significant increase (by more than 2.5%) on Friday, November 17. Futures for the WTI crude oil are being traded near $56.50-$56.75 per barrel.

Market Indicators

On Friday, the major US stock indices closed in the negative zone: #SPY (-0.29%), #DIA (-0.65%), #QQQ (-0.38%).

At the moment, the 10-year US government bonds yield is at the level of 2.34-2.35%.

News background on the 2017.11.20:

We recommend paying attention to the ECB head Draghi's speech.

by JustForex, 2017.11.20

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.

Open Account

Get Free Analytics

* required fields