The US Dollar Is Still Under Pressure

The US dollar shows multidirectional dynamics relative to the basket of major currencies. The pressure on the American currency is put by the statements of the US President regarding the Fed policy. So, Donald Trump believes that the US central bank slows down the economic growth of the country. He wrote in his Twitter: "If the Fed had done its job properly, which it has not, the Stock Market would have been up 5000 to 10,000 additional points, and GDP would have been well over 4% instead of 3%...with almost no inflation." The dollar index (#DX) closed the trading session with a slight decrease (-0.04%).

The Australian dollar weakened after the publication of the minutes of the RBA's monetary policy meeting. The regulator believes that lower interest rates would be "appropriate" if inflation remains low and the unemployment rate continues to rise. The British pound holds the mark of $1.31. British Prime Minister, Theresa May, announced that the country will prepare for a "tough" Brexit in October. However, the President of the European Council, Donald Tusk, urges not to hurry with hasty decisions, despite the fact that everyone is already exhausted because of the uncertainty around Brexit.

The "black gold" prices continue to fall. At the moment, the WTI crude oil futures are testing the mark of $63.20 per barrel. At 23:30 (GMT+3:00) a report on crude oil inventories according to the American Petroleum Institute will be published.

Market Indicators

Yesterday, multidirectional dynamics was observed on the US stock market: #SPY (-0.07%), #DIA (-0.10%), #QQQ (+ 0.02%).

The yield of 10-year US government bonds is at the level of 2.55-2.56%.

- Data on the labor market in the UK at 11:30 (GMT+3:00);
- The ZEW economic sentiment index in Germany at 12:00 (GMT+3:00);
- The industrial production volume in the United States at 16:15 (GMT+3:00).

by JustMarkets, 2019.04.16

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.