Article By RoboForex.com
The US dollar strengthened against a basket of currency majors. Investors are optimistic about resolving the trade conflict between Washington and Beijing in the near future. The dollar index (#DX) closed yesterday’s trading in the green zone (+0.33%). At the same time, it became known that China put pressure on the United States and demanded to cancel even more tariffs that Washington had introduced earlier. China wants to cancel 15% of tariffs on goods $125 billion worth, which came into force on September 1, as well as 25% of tariffs on goods $250 billion worth. The United States, in turn, considers the option of canceling certain tariffs, however, they are unlikely to agree to cancel all previously introduced ones.
Today, during the Asian trading session, the Reserve Bank of Australia has decided on the interest rate. As expected, the regulator left the indicator unchanged at 0.75% per annum.
Yesterday, optimistic data were published in the UK. Thus, construction PMI in the UK counted to 44.2 and turned out to be better than the forecasted value of 44.0. The Bank of England interest rate decision, which will be adopted on Thursday, November 7, will be the main event for the British pound this week.
The “black gold” prices have been growing. Currently, futures for the WTI crude oil are testing the $57.00 mark per barrel. At 23:30 (GMT+2:00), API weekly crude oil stock will be published.
Market Indicators
On Friday, there was the bullish sentiment in the US stock markets: #SPY (+0.40%), #DIA (+0.44%), #QQQ (+0.62%).
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The 10-year US government bonds yield has risen again. At the moment, the indicator is at the level of 1.81-1.82%.
- – Indicators on economic activity in the UK at 11:30 (GMT+2:00);
- – ISM non-manufacturing PMI in the US at 17:00 (GMT+2:00);
- – JOLTS job openings in the US at 17:00 (GMT+2:00);
- – Employment change in New Zealand at 23:45 (GMT+2:00).
Article By RoboForex.com
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
