The US dollar continues to weaken against a basket of world currencies. The dollar index (#DX) has updated local lows again and closed the trading session in the red zone. Investors are concerned about the impact of the trade war between Washington and Beijing on the state of the economy. Earlier, the US reported a sharp decline in economic activity in the country's manufacturing sector. Labor statistics from ADP were negative. Financial market participants are also worried about the uncertainty concerning Brexit and the growing risks of impeachment by US President Donald Trump. These events support the demand for safe assets.
Today, weak data on economic activity in the Eurozone and the UK were published. In September, Markit composite PMI in the Eurozone fell from 51.9 to 50.1. The composite index on economic activity in the UK slowed down from 50.2 to 49.3. Investors expect the release of important statistics on the US economy. These releases may have a significant impact on the dynamics of currency majors in the short term.
The "black gold" prices continue to show negative dynamics. Currently, futures for the WTI crude oil are testing the $52.50 mark per barrel.
Market Indicators
Yesterday, aggressive sales were observed in the US stock markets: #SPY (-1.77%), #DIA (-1.80%), #QQQ (-1.72%).
The 10-year US government bonds yield shows negative dynamics. At the moment, the indicator is at the level of 1.57-1.58%.
- - Initial jobless claims in the US at 15:30 (GMT+3:00);
- - ISM non-manufacturing PMI at 17:00 (GMT+3:00).
by , 2019.10.03
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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