The Dollar Index Is Keeping Current Levels

August 14, 2020

The US dollar shows ambiguous results against a basket of major currencies due to the uncertainty concerning the new package of measures to help the US economy. The US dollar index (#DX) closed yesterday’s trading session with a slight decline (-0.10%). The US Senate went on vacation before the end of the month without reaching an agreement. White House Economic Adviser, Larry Kudlow, said that Democrats were asking “too much money.” At the same time, economic data support the US dollar. Thus, initial jobless claims finally fell below the 1 million mark and counted to 963K.

The Donald Trump administration said it is pleased with China’s progress in meeting its commitments to purchase US goods in the phase-one China-US trade deal. On Saturday, US Trade Representative Robert Lighthizer and Vice Premier of the People’s Republic of China Liu He will discuss the progress of the trade deal at a video conference.

Today, during the Asian trading session, weak economic data from China was published. Thus, the volume of industrial production increased by 4.8%, while experts forecasted an increase by 5.1%.

The “black gold” prices are consolidating. At the moment, futures for the WTI crude oil are testing the $41.90 mark per barrel.

Market indicators

Yesterday, there was a variety of trends in the US stock market: #SPY (-0.18%), #DIA (-0.22%), #QQQ (+0.23%).

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