The Dollar Index Is Testing Two-Year Highs. Investors Expect US GDP Data

Demand for the US currency is still high. Yesterday, the US dollar strengthened slightly against the basket of major currencies. At the moment, the dollar index (#DX) has become stable near two-year highs. The United States has published mixed economic releases. Core durable goods orders rose by 0.4% in March, although investors expected growth by only 0.2%. However, initial jobless claims increased to 230K instead of 199K. Today, investors have taken a wait-and-see attitude before the publication of US GDP data for the first quarter of 2019. We recommend taking into account the difference between the actual and forecasted values.

The euro has stabilized after aggressive sales the day before. Yesterday, ECB Vice President, Luis de Guindos, said that the regulator was ready to resume a quantitative easing program (QE) to stimulate inflation in the Eurozone. The official also added that he expected growth in the Eurozone economy by 1.1-1.2% in 2019.

The "black gold" prices have moved away from annual highs. In the near future technical correction is not excluded after a protracted rally. At the moment, futures for the WTI crude oil are testing the mark of $64.90 per barrel.

Market Indicators

Yesterday, there was a variety of trends in the US stock market: #SPY (-0.06%), #DIA (-0.52%), #QQQ (+0.41%).

The 10-year US government bonds yield is at the level of 2.52-2.53%.

- US GDP data at 15:30 (GMT+3:00).

by JMarkets, 2019.04.26

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.