The US dollar is changing slightly against a basket of major currencies. Yesterday, the US dollar index (#DX) closed the trading session with a slight increase (+0.08%). Today, trading activity may be low, as US markets are closed due to Independence Day. Earlier this week, the Fed’s Vice Chairman, Richard Clarida, said at a conference of the Central Bank in Finland that many Fed’s officials saw signals to ease monetary policy. However, Thomas Barkin, President of the Federal Reserve Bank of Richmond, said in an interview that it was too early to predict whether the Fed would lower the interest rate at the next meeting, which would be held on July 30-31. Investors expect additional clues regarding further Fed’s steps.
The US dollar is under pressure due to weak economic data from the US. ADP nonfarm employment change increased by 102K in June, while experts forecasted growth by 140K. Initial jobless claims counted to 221K instead of 220K. ISM non-manufacturing PMI was 55.1 in June instead of the forecasted 56.1.
The bearish sentiment is prevailing in the “black gold” market. At the moment, futures for the WTI crude oil are testing the mark of $56.90 per barrel.
Market Indicators
- Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.80%), #DIA (+0.71%), #QQQ (+0.75%).
- The 10-year US government bonds yield is consolidating. At the moment, the indicator is at the level of 1.95-1.96%.
The News Feed on 2019.07.04:
- Today, the news feed is calm. US financial markets are closed due to Independence Day.
