by JustForex
The US dollar ended the trading week with a decline. The dollar index (#DX) closed on Friday in the red zone (-0.22%). On Sunday, US Trade Representative Robert Lighthizer announced that the phase one US-China trade deal was “totally done.” US President Donald Trump pledged to cancel a new round of tariffs, which was scheduled for December 15. In turn, Beijing promised to increase purchases of American agricultural products. Also, Donald Trump announced that the second stage of trade negotiations would begin immediately after the conclusion of the first stage. However, Beijing made clear that the transition to the next phase would depend on how the conditions of the first phase were met.
The British pound continues to strengthen after the decisive victory of the conservative party by Prime Minister Boris Johnson in the elections. This victory paved the way for Britain to exit the EU. The Brexit process may already begin after the official opening of parliament and the Queen’s speech on Thursday. Investors also expect the Bank of England interest rate decision and its statements on monetary policy issues.
Today, during the Asian trading session, optimistic economic data have been published in China. Thus, China’s industrial production grew by 6.2% in November, while experts expected 5.0%.
The “black gold” prices continue to show positive dynamics. At the moment, futures for the WTI crude oil are testing the $60.00 mark per barrel.
On Friday, there was the bullish sentiment in the US stock market: #SPY (+0.06%), #DIA (+0.06%), #QQQ (+0.33%).
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The 10-year US government bonds yield has declined. At the moment, the indicator is at the level of 1.84-1.85%.
by JustForex