The US Dollar Is Declining Against a Basket of Currency Majors

September 18, 2020

The greenback is declining against a basket of currency majors after the publication of weak economic data. Thus, the number of building permits counted to 1,470M in August, while experts expected the 1,520M mark. Initial jobless claims increased by 860K instead of 850K. Philadelphia Fed manufacturing index counted to 15.0 in September. The US dollar was under pressure due to another sell-off of American tech companies: the high-tech Nasdaq Composite index fell by 1.3%. The US dollar index (#DX) closed in the red zone (-0.28%) yesterday.

The Bank of England meeting took place yesterday, during which the regulator kept the key interest rate unchanged at 0.10% per annum. At the same time, the Bank of England says it is considering the possibility of setting negative interest rates, as it prepares that the UK government will not be able to conclude a trade deal with the EU until the end of this year.

The “black gold” prices have been growing. At the moment, futures for the WTI crude oil are testing the $41.05 mark per barrel.

Market indicators

Yesterday, there was the bearish sentiment in the US stock market: #SPY (-0.88%), #DIA (-0.52%), #QQQ (-1.56%).

The 10-year US government bonds yield is consolidating. The indicator has reached the level of 0.68-0.69%.

Free Reports:

Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.

Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter

The news feed for 2020.09.18:

– Retail sales in the UK at 09:00 (GMT+3:00);
– Core retail sales in Canada at 15:30 (GMT+3:00);
– Michigan consumer expectations and sentiment at 17:00 (GMT+3:00).

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Latest Financial Markets News:

InvestMacro

The US Dollar Is Declining Against a Basket of Currency Majors

Market indicators