22 Oct

The US Dollar Is Still Weak Against a Basket of World Currencies

October 22, 2020

by JustForex

During yesterday’s trading session, the greenback significantly weakened against currency majors. The dollar index (#DX) has updated monthly lows and closed in the red zone (-0.49%). The US currency is still weak before the US presidential election scheduled for November 3. At the moment, polls give the lead to the Democratic candidate Biden. Investors also continue to monitor negotiations on a new stimulus package in the US.

According to the Fed’s Beige Book, most US federal districts showed weak or moderate economic growth from late August to early October. The UK and EU plan to resume trade talks later this week. Investors will assess important US economic releases today.

The “black gold” prices have become stable after a sharp collapse the day before. At the moment, futures for the WTI crude oil are testing the $40.20 mark per barrel.

Market indicators

Yesterday, there were sales in the US stock market: #SPY (-0.19%), #DIA (-0.35%), #QQQ (-0.08%).

The 10-year US government bonds yield has become stable. At the moment, the indicator is at the level of 0.81-0.82%.

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The news feed for 2020.10.22:
  • – Initial jobless claims in the US at 15:30 (GMT+3:00);
  • – Existing home sales in the US 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.


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