The US Dollar Has Become Stable. The FOMC Meeting Minutes Are in the Focus of Attention

The US dollar has become stable against currency majors. The dollar index (#DX) moved away from local lows and closed yesterday's trading session in the green zone (+0.08%). Optimistic data on the real estate market supported the US currency. At the moment, financial market participants have taken a wait-and-see attitude before the publication of the FOMC meeting minutes, which may have a significant impact on the dynamics of major currency pairs. Earlier, Fed Chairman Jerome Powell said that interest rates would remain at current levels until the end of the year.

Demand for safe haven currencies is still at a fairly high level amid uncertainty in settlement of the trade conflict between the US and China, as well as growing political tension in Hong Kong. Yesterday, Donald Trump threatened again to increase tariffs on Chinese imports if a deal with Beijing wasn’t reached. We recommend following current information on these issues. Today, the National Bank of China has lowered its key interest rate from 4.20% to 4.15%.

The "black gold" prices are consolidating after a sharp collapse the day before. Currently, futures for the WTI crude oil are testing the $55.35 mark per barrel. At 17:30 (GMT+2:00), EIA crude oil inventories will be published.

Market Indicators

Yesterday, there was a variety of trends in the US stock markets: #SPY (-0.03%), #DIA (-0.34%), #QQQ (+0.15%).

The 10-year US government bonds yield has been declining. At the moment, the indicator is at the level of 1.74-1.75%.

• - Inflation report in Canada at 15:30 (GMT+2:00);
• - Publication of the FOMC meeting minutes at 21:00 (GMT+2:00).

by JMarkets, 2019.11.20

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.