The US Dollar Is Falling

The American dollar is falling against a basket of the major currencies. Last week was marked by the maximum increase of the USD for the last month. The US dollar index (#DX) closed in the negative zone (-0,24%). US retail sales data for June was also released and it met the expectations of investors at the level of 0,5%.

The trading conflict between the USA and China is still in the spotlight. Weak economic reports from China has strengthen the concerns of the financial market participants that this trading war with the United States may slow the growth of Chinese economics. The US Administration, in turn, is not satisfied with the retaliatory duties on imports of American goods from China, the EU, Canada, Mexico and Turkey. Washington, D.C., considers these actions as illegal and illegitimate.

The Consumers Price Index of New Zealand was released during the Asian trading session. It fell to 0,4%, while experts expected 0,5%. Today we expect the statements of the head of the Bank of England, Mark Carney, and the chairman of the Federal Reserve, Jerome Powell.

The "black gold" prices drop sharply against the increasing oil supply on the world’s market. At the moment, futures for the WTI crude oil are testing a mark of $66,95 per barrel. At 23:30 (GMT+3:00), a report on the US crude oil inventories will be published.

Market Indicators

Yesterday, there was a variety of trends in the US stock market: #SPY (-0,09%), #DIA (+0,19%), #QQQ (-0,24%).

At the moment, the 10-year US government bonds yield is at the level of 2,85-2,86%.

- The Average UK salary at 11:30 (GMT+3:00).

We also recommend paying attention to the speech by the heads of the Fed and the Bank of England.

by JMarkets, 2018.07.16

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.