by JustForex
Yesterday, the trade on the major currency pairs was very active, although there wasn’t a unified trend. The USD was slightly weakened against the other major currencies due to the inversion of the US government bonds yield curve. Investors are still worried about the US/China trading war, especially since Donald Trump announced that he might still increase the fees on the Chinese wares if China and the US wouldn’t be able to reach a compromise. This compromise must be reached in the next 90 days of truce. The USD index (#DX) closed in the red (-0.07%).
Yesterday the UK published some positive reports. For example, the construction PMI reached 53.4 while the investors were expecting 52.5. The British pound remains under pressure due to the debates in the British parliament concerning Brexit, which will last for five days.
During the Asian trading session, Australia published weak GDP reports. The indicator for the third quarter is +0.3% while the experts expected +0.6%. The financial market participants are waiting for the Bank of Canada to decide on the key interest rate.
Prices on oil started to descend. The WTI futures are testing the 52.25 USD/barrel mark.
Market Indicators
There were some aggressive sales on the US stock market yesterday: #SPY (-3,24%), #DIA (-3,09%), #QQQ (-3,84%).
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The 10-year US government bonds yield keeps lowering. At the moment it is at 2.91-2.92%.
- – Service PMI (UK) – 11:30 (GMT+2:00);
- – A decision on the key interest rate in Canada – 17:00 (GMT+2:00);
- – Beige Book – 21:00 (GMT+2:00).
by JustForex
