Currency Majors Are Consolidating. Investors Expect US Economic Releases

Greenback shows multidirectional dynamics relative to the basket of world currencies. The dollar index (#DX) is consolidating in the range of 96.85-97.30. Financial market participants are concerned about new outbreaks of coronavirus cases. The number of people infected around the world has reached 11.5 million.

The head of the European Council, Charles Michel, said that it would take several years for the EU to return to the pre-crisis level after the COVID-19 epidemic. Today, investors will be focused on the ISM Non-Manufacturing Purchasing Managers Index for the US from June. It is expected that the indicator will accelerate from 45.4 to 50.1.

Purchases prevail in the black gold market. Currently, the WTI crude oil futures are testing the $40.85 per barrel mark.

Market indicators

On Friday, US stock markets were closed due to the holiday.

The 10-year US government bonds yield has shifted to growth. At the moment, the indicator is at the level of 0.68-0.69%.

The news feed on 2020.07.06:
  • - The index of business activity in the UK construction sector at 11:30 (GMT+3:00);
  • - ISM Non-Manufacturing PMI of the USA at 17:00 (GMT+3:00).

by JustForex, 2020.07.06

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.

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