by JustForex
The US currency has been growing relative to a basket of currency majors amid falling stock markets. Traders have started buying safe assets due to renewed fears over COVID-19. Investors are concerned that an increase in COVID-19 cases in Europe and a downturn in enthusiasm for new stimulus in the US against the election race could impede global economic recovery from the coronavirus pandemic. The US dollar index (#DX) closed in the red zone (+0.79%) yesterday.
Today, speech by the head of the Fed Chairman Jerome Powell, which will take place today on the Capitol Hill, is in the spotlight. The official will talk about a number of emergency measures that the regulator has taken to help the US economy after the coronavirus epidemic. Secretary of the Treasury Steven Mnuchin will also give a speech.
The “black gold” prices are consolidating. At the moment, futures for the WTI crude oil are testing the $40.15 mark per barrel. At 23:30 (GMT+3:00), API weekly crude stock will be published.
Market indicators
Yesterday, there was a variety of trends in the US stock market: #SPY (-1.11%), #DIA (-1.84%), #QQQ (+0.24%).
The 10-year US government bonds yield is consolidating. The indicator has reached 0.67-0.68%.
Free Reports:
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
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.
- – Existing home sales in the US at 17:00 (GMT+3:00).
We also recommend paying attention to the speeches by the heads of the Fed, the Bank of England and the ECB representatives.
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.
- COT Metals Charts: Speculator bets led by Gold & Steel May 4, 2024
- COT Bonds Charts: Speculator bets led lower by SOFR 3M & 10-Year Bonds May 4, 2024
- COT Soft Commodities Charts: Speculator bets led by Wheat, Soybean Meal & Corn May 4, 2024
- COT Stock Market Charts: Speculator bets led lower by S&P500 & MSCI EAFE May 4, 2024
- The British index has updated the historical maximum. Oil lost 5% over the week May 3, 2024
- US Fed tilts towards a rate cut despite the postponement. HKMA left the rate unchanged at 5.75% May 2, 2024
- Brent crude oil hits seven-week low May 2, 2024
- Target Thursdays: USDJPY, Copper & EURCAD May 2, 2024
- WTI oil declines on rising inventories and negotiations between Israel and Hamas. Rising unemployment in New Zealand may force RBNZ to start cutting rates earlier May 1, 2024
- Bitcoin stumbles below $60k ahead of Fed May 1, 2024
