by JustForex
During yesterday’s trading, the US dollar fell significantly against a basket of major currencies. Yesterday, the dollar index (#DX) closed in the red zone (-0.40%). US President Donald Trump announced plans to restore duties on steel and aluminum from Brazil and Argentina. The weak economic data in the US, which were published yesterday, triggered such a decision. So, the ISM manufacturing PMI fell to 48.1, while experts forecasted 49.2.
Financial market participants continue to monitor trade negotiations between the US and China. Trump said that the signing of laws in the United States in support of protesters in Hong Kong would not facilitate negotiations. However, China still wants to conclude the trade agreement with the US. But to conclude a deal, Beijing requires rolling back duties introduced earlier.
The British pound strengthened significantly against the US dollar after the release of optimistic data from the UK. So, the index of economic activity in the manufacturing sector counted to 48.9 in November, while experts expected 48.3. We expect economic statistics from the UK.
Today, during the Asian trading session, the Reserve Bank of Australia has decided on the interest rate. So, the indicator has been unchanged at 0.75%-1.00% per annum.
The “black gold” prices have been growing amid reduced production in OPEC countries. Currently, futures for the WTI crude oil are testing the $56.20 mark per barrel.
Free Reports:
Yesterday, there was the bearish sentiment in the US stock market: #SPY (-0.85%), #DIA (-0.98%), #QQQ (-1.02%).
The 10-year US government bonds yield has decreased slightly. At the moment, the indicator is at the level of 1.82-1.83%.
by JustForex