by JustForex
During yesterday’s trading session, the greenback has continued to lose ground against its main competitors. The dollar index (#DX) closed in the negative zone (-0.69%). The US continues to publish rather weak economic releases. In April, the volume of durable goods orders decreased by 17.2% (m/m). At the same time, the indicator has exceeded market expectations at the level of 19.0%. According to preliminary data, the country’s GDP will decline by 5.0% in the first quarter. The number of initial jobless claims has exceeded 2 million again. Pending home sales index counted to 21.8% compared to the forecasted value of -15.0%.
The conflict between Washington and Beijing is still in the spotlight. Tensions between the two countries are escalating due to China’s national security laws for Hong Kong. The Chinese government has approved the adoption of this law. Today, Donald Trump will comment on this decision at a press conference. Financial market participants will also follow the speech by the Fed Chairman.
Oil quotes have been declining. Currently, futures for the WTI crude oil are testing the $32.65 mark per barrel. At 20:00 (GMT+3:00), US Baker Hughes oil rig count will be published.
Yesterday, there was the bearish sentiment in the US stock market: #SPY (+0.18%), #DIA (+0.56%), #QQQ (-0.13%).
The 10-year US government bonds yield has declined. At the moment, the indicator is at the level of 0.66-0.67%.
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by JustForex