The US dollar weakened slightly against a basket of major currencies. Yesterday, ambiguous economic statistics from the United States were published. Thus, core durable goods orders rose by 0.1% in October, while experts expected +0.4%. However, existing home sales rose to 5.22M instead of 5.20M. The US dollar index (#DX) closed in the negative zone (-0.14%). Today, trading volume and liquidity will be reduced due to Thanksgiving Day. We recommend reducing the risks when opening positions.
The euro may be under pressure, as it became known that the European Commission intended to punish Italy for the discrepancy of the budget project to the EU rules with a penalty of 0.2% of GDP. Earlier, the European Commission rejected the draft budget of Italy, which suggested a deficit of 2.4% of GDP in 2019. The Italian government was supposed to submit a new draft budget with a revised deficit before November 13. But yesterday, Italian Deputy Prime Minister, Matteo Salvini, made it clear that Italy did not intend to change plans.
The “black gold” prices continue to consolidate after a sharp collapse on Tuesday, November 20. At the moment, futures for the WTI crude oil are testing a mark of $54.40 per barrel.
Market Indicators
The US stock market recovered some losses: #SPY (+0.34%), #DIA (+0.06%), #QQQ (+0.76%).
The 10-year US government bonds yield has become stable. Currently, the indicator is at the level of 3.05-3.06%.
The news feed on 2018.11.22:
Today, the attention of financial markets participants will be focused on the minutes of the ECB monetary policy meeting at 14:30 (GMT+2:00).
