The US dollar did not change a lot against the basket of major currencies during yesterday’s trading session. Yesterday, the International Monetary Fund revised down the estimate for global GDP growth to 3.5% for 2019 from 3.7% forecasted earlier due to trade tensions, which persisted for most of 2018, as well as due to the weakening of the Eurozone figures. For 2020, the forecast counted to 3.6%. The US dollar index (#DX) has kept current levels (0.00).
The British pound slightly strengthened against the US dollar. Yesterday, British Prime Minister Theresa May attempted to resolve the situation with Brexit, proposing to ask the European Union to make new concessions on the Brexit issue. The Prime Minister believes that London should strive to achieve an agreement with Brussels. Some members of parliament stand for a second Brexit referendum. However, Theresa May does not support this idea and believes that the second referendum may damage the economy and society as a whole.
The “black gold” prices are falling. At the moment, futures for the WTI crude oil are testing the mark of $53.70 per barrel.
Market Indicators
- Yesterday, the US stock market was closed due to the holiday.
- The 10-year US government bonds yield is at the level of 2.74-2.75%.
The Economic Calendar for 22.01.2019:
- Reports on the UK labor market at 11:30 (GMT+2:00);
- German ZEW economic sentiment index at 12:00 (GMT+2:00);
- Existing home sales in the US at 17:00 (GMT+2:00);
- Consumer price index in New Zealand at 23:45 (GMT+2:00).
