The Greenback Is Consolidating. Investors Expect Additional Drivers

October 15, 2020

The US dollar shows ambiguous results against major competitors. Yesterday, the dollar index (#DX) closed the trading day with a slight decline (-0.18%). Financial market participants continue to follow the negotiations in the US Congress on a new stimulus package for the country’s economy. Demand for the British pound has grown following reports that Brussels and London may extend Brexit negotiations after the mid-October deadline.

European stocks have collapsed amid the rapid spread of the COVID-19 epidemic, which causes significant damage to the EU economy. Some countries have introduced new restrictive measures. At the moment, the number of infected in the world has exceeded 38.5 million. Today, we recommend paying attention to economic releases from the US.

The “black gold” prices show a negative trend. At the moment, futures for the WTI crude oil are testing the $40.20 mark per barrel. We recommend paying attention to the data on EIA crude oil inventories at 18:00 (GMT+3:00).

Market indicators

Yesterday, there was the bearish sentiment in the US stock market: #SPY (-0.63%), #DIA (-0.56%), #QQQ (-0.84%).

The 10-year US government bonds yield has been declining. The indicator has reached 0.70-0.71%.

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The news feed for 2020.10.15:

– Initial jobless claims in the US at 15:30 (GMT+3:00);
– Philadelphia Fed manufacturing index at 15:30 (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.

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The Greenback Is Consolidating. Investors Expect Additional Drivers

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