On Friday, the US dollar weakened slightly against a basket of major currencies. Ambiguous data on the US economy were published. Thus, the number of JOLTS job openings increased to 7,581M in January, while experts expected 7,310M. However, the volume of industrial production increased by only 0.1% in February instead of the expected growth by 0.4%. The US currency is under pressure due to a decline in the US government bonds yield. The dollar index (#DX) closed the trading session in the negative zone (-0.18%).
This week, investors will be focused on trade relations between the US and China. As it became known, a meeting between US President Donald Trump and Chinese President Xi Jinping to sign the final trade agreement may be rescheduled for June, although it was previously planned to be signed in April. Financial market participants expect the Fed, the Swiss National Bank and the Bank of England meetings. It is expected that the regulator will keep the key marks of monetary policy at the same level.
Investors are still focused on the situation concerning Brexit. On Thursday, March 21, the EU summit will start, at which representatives should vote for the Brexit delay.
The “black gold” prices have moved away from local highs. At the moment, futures for the WTI crude oil have approached $58.50 per barrel.
Market Indicators
- On Friday, purchases prevailed in the US stock market: #SPY (+0.05%), #DIA (+0.31%), #QQQ (+0.93%).
- The 10-year US government bonds yield has decreased. Currently, the indicator is at the level of 2.59-2.60%.
The news feed on 18.03.2019:
- Today, the publication of important economic news is not expected. At 12:00 (GMT+2:00) data on the trade balance of the Eurozone will be published.
