The US Dollar Is Consolidating

Yesterday, the US dollar fell slightly against a basket of major currencies amid mixed economic statistics. Thus, the core retail sales index fell by 0.4% in February, while experts forecasted growth by 0.4%. Retail sales also fell by 0.2% in February instead of the expected growth by 0.3%. At the same time, ISM manufacturing PMI increased to 55.3 in March instead of 54.5. The dollar index (#DX) closed with a small minus near three-week highs (-0.03%).

Yesterday, the British Parliament failed to decide the future of Britain in the EU again. So, four Brexit alternatives were rejected. The EU's chief Brexit negotiator, Michel Barnier, announced that the UK was likely to exit the European Union without an agreement. He also said that Britain could still accept the deal offered by Theresa May, exit without an agreement, or ask to delay Brexit.

The euro weakened against the US dollar amid weak economic statistics yesterday. Thus, German manufacturing PMI fell to 44.1 in March, while experts expected 44.7. The consumer price index in the Eurozone rose by only 1.4% in March instead of the forecasted growth by 1.5%.

Today, during the Asian trading session, the Reserve Bank of Australia has decided on a key interest rate. The regulator left the indicator unchanged at 1.50%. Also, optimistic data on building permits was published in Australia, which rose by 19.1% in February, although experts expected a decline by 1.7%

The "black gold" prices are increasing. At the moment, futures for the WTI crude oil are testing the mark of $61.70 per barrel. At 23:30 (GMT+3:00), a report on the API weekly crude oil stock will be published.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+1.19%), #DIA (+1.26%), #QQQ (+1.32%).

The 10-year US government bonds yield is growing. At the moment, the indicator is at the level of 2.46-2.47%.

- The index of economic activity in the UK construction sector at 11:30 (GMT+3:00);
- Core durable goods orders in the US at 15:30 (GMT+3:00).

by JMarkets, 2019.04.02

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.