The American Currency Has Been Growing

The US dollar strengthened against the basket of major currencies. The US dollar index (#DX) closed yesterday in the positive zone (+0.53%). The trade conflict between the US and China is again in the spotlight. Yesterday another US sanctions on Chinese goods in the amount of $16 billion came into force, as it was planned. At the same time, on August 22-23, negotiations on the current trade situation were held between the countries. According to the Ministry of Commerce of PRC, China considers the talks that took place to be fruitful and constructive.

The single currency weakened against the US dollar. Yesterday, the index of economic activity in the manufacturing sector of Germany was published, which counted to 56.1 and was worse than the forecasted value of 56.5. Also, the minutes of the ECB meeting on monetary policy were published, according to which the growth of the Eurozone economy remains at the same level.

The "black gold" prices are rising. At the moment, futures for WTI crude oil are testing a mark of $68.30 per barrel.

Market Indicators

Yesterday, the bearish sentiment was observed in the US stock market: #SPY (-0.13%), #DIA (-0.27%), #QQQ (-0.14%).

At the moment, the yield of 10-year US government bonds is at the level of 2.81% -2.82%.

- Data on GDP of Germany at 09:00 (GMT+3:00);
- Basic orders for durable goods in the US at 15:30 (GMT+3:00).

We also recommend paying attention to the speech by the Fed's head, Powell.

by JMarkets, 2018.08.24

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.