The US dollar has been declining against a basket of currency majors. The US dollar index (#DX) has updated local lows. Demand for risky assets has grown significantly when more and more countries start easing quarantine restrictions, which gives hope for economic recovery after the impact of the pandemic. So, in Japan, the state of emergency was canceled; in India, domestic air traffic resumes, in the Eurozone countries, more and more restrictive measures are being removed. At the same time, Novavax, an American pharmaceutical company, said it has started clinical trials of a vaccine against the COVID-19 virus.
Meanwhile, Executive Director of the World Health Organization's Health Emergencies Programme, Mike Ryan, believes the world is still in the middle of the first wave of the COVID-19 pandemic. "Right now, we're not in the second wave. We're right in the middle of the first wave globally," said M. Ryan. This is evidenced by the epidemiological situation in Central and South America, South Asia and Africa, where the number of cases is growing sharply every day. He also noted that coronavirus could show a sudden new peak.
The "black gold" prices continue to recover. Currently, futures for the WTI crude oil are testing the $34.10 mark per barrel.
Market indicators
Yesterday, the US stock market was closed due to the holiday.
The 10-year US government bonds yield has increased. At the moment, the indicator is at the level of 0.69-0.70%.
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- Consumer confidence index in the US at 17:00 (GMT+3:00);
- New home sales in the US at 17:00 (GMT+3:00).
by , 2020.05.26
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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