The US dollar is declining against a basket of major currencies. The US dollar index closed in the negative zone (-0.26%). Financial market participants follow events concerning the US trade negotiations with China and Mexico. US President Donald Trump threatened China to introduce new duties on goods worth ‘at least’ $300 billion. Also, investors have taken a wait-and-see attitude towards the US labor market report for May, which will be published today at 15:30 (GMT+3:00). These statistics may affect the views of the Fed regarding further monetary policy. We recommend paying attention to the difference between the actual and forecasted values.
Yesterday, the ECB, as expected, kept the key marks of monetary policy at the same level. During the press conference after the meeting, the ECB President Mario Draghi said that the regulator improved the forecasts for economic growth and consumer prices in the Eurozone for 2019. The leadership of the Central Bank expects Eurozone GDP to grow by 1.2% this year, rather than 1.1%, as was previously expected. The inflation forecast was raised to 1.3% from 1.2% in March. Some ECB officials are ready to consider resuming a quantitative easing program in case of adverse conditions.
The ‘black gold’ prices are rising. At the moment, futures for the WTI crude oil are testing a mark of $53.35 per barrel.
Market Indicators
- Yesterday, aggressive purchases were observed in the US stock market: #SPY (+0.65%), #DIA (+0.78%), #QQQ (+0.79%).
- The 10-year US government bonds yield is consolidating. Currently, the indicator is at the level of 2.11-2.12%.
The news feed on 2019.06.07:
- At 15:30 (GMT+3:00) reports on the labor market will be published in the US and Canada.
