Greenback Has Started to Grow. Reserve Bank of Australia Has Kept the Interest Rate Unchanged

The US dollar has strengthened against a basket of world currencies. The dollar index (#DX) has updated local highs. Demand for risky assets has weakened amid new outbreaks of coronavirus disease. Investors are concerned about the possible return of restrictive measures. Optimistic economic releases from the USA have supported the greenback. In June, the ISM U.S. Purchasing Managers Index accelerated from 45.4 to 57.1.

The Reserve Bank of Australia, as expected, kept the basic parameters of monetary policy at the same level. The regulator confirmed its readiness to soften monetary policy if necessary. We also recommend paying attention to the speeches of FOMC representatives.

The black gold prices are consolidating. WTI crude oil futures are currently testing the $40.40 per barrel mark. Today, we recommend paying attention to weekly crude oil inventories in the USA according to API data.

Market indicators

Bullish sentiment was observed yesterday in the US stock market: #SPY (+1.54%), #DIA (+1.77%), #QQQ (+2.46%).

The 10-year US government bonds yield is consolidating. At the moment, the indicator is at the level of 0.67-0.68%.

The news feed on 2020.07.07:
  • - The number of open jobs in the US labor market (JOLTS) at 17:00 (GMT+3:00).

by JustForex, 2020.07.07

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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