The US Dollar Index Is in Plus

The US dollar strengthened slightly against a basket of major currencies. Yesterday, the White House Press Secretary, Sarah Sanders, said that the US President, Donald Trump, would consider a bill to end the US government shutdown if it would contain funds to build a wall on the border with Mexico. It should be recalled that the US government has not worked for more than a month since December 22. The US dollar index (#DX) closed yesterday in the positive zone (+0.55).

The British pound strengthened against the US dollar amid news that the Democratic Unionist Party of Northern Ireland intends to support the Brexit plan proposed by Theresa May next week. On January 29, a vote on Theresa May's Brexit plan B should take place.

The euro weakened against the US currency. Yesterday, the ECB left the interest rate unchanged at 0.00%, as experts expected. However, at the ECB press conference, Mario Draghi said that the economic data of the Eurozone is still lower than forecasted. The head of the ECB believes that economic growth will continue to slow down in the near future.

The "black gold" prices are rising due to concerns of reducing the supply of fuel from Venezuela. At the moment, futures for WTI crude oil are testing the mark of $53.60 per barrel. At 20:00 (GMT+2:00) the US Baker Hughes total rig count will be published.

Market Indicators

Yesterday, there was a variety of trends in the US stock market: #SPY (+0.05%), #DIA (-0.10%), #QQQ (+0.65%).

The 10-year US government bonds yield fell slightly. At the moment, the indicator is at the level of 2.74-2.75%.

- German IFO business climate index at 11:00 (GMT+2:00);
- Core durable goods orders in the US at 15:30 (GMT+2:00);
- New home sales in the US at 17:00 (GMT+2:00).

by JMarkets, 2019.01.25

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.