The US Currency Is Still Rising

The US dollar has risen again relative to a basket of major currencies. The US dollar index (#DX) closed in the positive zone (+0.32). Yesterday, the US Senate approved a $484 billion coronavirus aid bill aimed at supporting the US economy. The House of Representatives should vote on the bill on Thursday. It will be the fourth package of measures to fight coronavirus. Also, yesterday, US President Donald Trump announced an immigration ban for 60 days. This ban was initiated to help Americans who are trying to regain jobs lost due to coronavirus. Trump said the suspension of immigration would put "unemployed Americans first in line for jobs" as the country reopens.

The Australian dollar has been growing. According to preliminary data from the country's statistical office, retail sales jumped by 8.2% in March compared to February figures. The record growth was caused by the rush demand for food and essential goods under quarantine and self-isolation. However, the Governor of the Reserve Bank of Australia (RBA), Philip Lowe, said that in the first half of the year, Australia’s economy could show the biggest contraction since the Great Depression.

The "black gold" prices have fallen again. Currently, futures for the WTI crude oil are testing the $11.00 mark per barrel. At 17:30 (GMT+3:00), US crude oil inventories will be published.

Market indicators

Yesterday, there was the bearish sentiment in the US stock market: #SPY (-3.04%), #DIA (-2.71%), #QQQ (-3.69%).

The 10-year US government bonds yield fell again. At the moment, the indicator is at the level of 0.60-0.61%.

• - UK consumer price index at 09:00 (GMT+3:00);
• - Canada's core consumer price index at 15:30 (GMT+3:00).

by JMarkets, 2020.04.22

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.