23 Oct

The Dollar Index Has Become Stable

October 23, 2020

by JustForex

The greenback has become stable against a basket of world currencies. The dollar index (#DX) is consolidating in the range of 92.50-93.00. The demand for US currency is still quite low before the US presidential elections. During yesterday’s debate, Donald Trump and Democratic candidate Joe Biden presented opposing views on the COVID-19 epidemic. At the moment, the number of people infected in the world has exceeded 41.7 million. Politicians also discussed a range of topics, including the economy, race issues, climate change, health and immigration.

US House Speaker Nancy Pelosi announced progress in talks with the White House on a new stimulus package to combat the consequences of the coronavirus pandemic. We also recommend following up-to-date information concerning Brexit. Today, financial market participants will assess data on economic activity in the Eurozone and the US.

The “black gold” prices are consolidating. At the moment, futures for the WTI crude oil are testing the $40.85 mark per barrel. We recommend paying attention to the US Baker Hughes oil rig count at 20:00 (GMT+3:00).

Market indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+0.55%), #DIA (+0.60%), #QQQ (0.00%).

The 10-year US government bonds yield has been growing again. At the moment, the indicator is at the level of 0.85-0.86%.

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The news feed for 2020.10.23:
  • – A number of indicators on economic activity in Germany and the Eurozone at 10:30 (GMT+3:00) and 11:00 (GMT+3:00), respectively;
  • – Statistics on economic activity in the US at 16:45 (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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