by JustForex
The US dollar has become stable against major competitors. The dollar index (#DX) closed yesterday’s trading session with a slight decrease (-0.18%). However, the demand for US currency remains at a fairly high level. Financial market participants assess the speech by Fed Chairman Jerome Powell for Congress. The official believes the economy is strong. He also noted that the Chinese coronavirus might have some influence on the United States, but it is too early to talk about it. The Central Bank monitors risks, but now the monetary policy is in line with the current situation.
The British pound has been growing after the publication of positive economic data from the UK. So, GDP (YoY) grew by 1.1% in the 4th quarter, which turned out to be better than the forecasted growth by 0.8%. GDP (m/m) grew by 0.3% instead of 0.2%. Manufacturing production (m/m) grew by 0.3 in December, although experts expected an increase by 0.5%.
Today, the Reserve Bank of New Zealand has decided on the interest rate during the Asian trading session. The indicator remained unchanged at 1.00%.
The “black gold” prices are rising. Currently, futures for the WTI crude oil are testing the $50.60 mark per barrel. At 17:30 (GMT+2:00), crude oil inventories will be published.
Market Indicators
Major US stock indices have updated historic highs again: #SPY (+0.17%), #DIA (+0.00%), #QQQ (+0.02%).
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The 10-year US government bonds yield increased slightly. At the moment, the indicator is at the level of 1.62-1.63%.
- We recommend paying attention to the speech by Fed Chairman Powell.
by JustForex
