by JustForex
The US dollar is being traded in different directions against a basket of currency majors despite optimistic economic data. Thus, core retail sales index (m/m) grew by 12.4% in May instead of the forecasted growth by 5.5%. Retail sales (m/m) increased by 17.7% in May instead of 8.0%. At the same time, the Fed Chairman made ivestors upset with a statement that markets are unlikely to count on a quick recovery of the US and world economy.
Financial market participants are concerned about the second wave of the COVID-19 epidemic. The Chinese government is fighting a second outbreak of coronavirus. Today schools in Beijing were closed and an emergency was introduced in the city. Tensions between North and South Korea also increase after North Korea blew up a joint post office on Tuesday and threatened to send troops into the demilitarized zone.
The “black gold” prices have been declining. Currently, futures for the WTI crude oil are testing the $37.75 mark per barrel. At 17:30 (GMT+3:00), US crude oil inventories will be published.
Market indicators
Yesterday, there was the bullish sentiment in the US stock market: #SPY (+1.92%), #DIA (+2.12%), #QQQ (+1.72%).
The 10-year US government bonds yield is growing. At the moment, the indicator is at the level of 0.75-0.76%.
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- – UK consumer price index at 09:00 (GMT+3:00);
- – Eurozone consumer price index at 12:00 (GMT+3:00);
- – Statistics on the real estate market in the US at 15:30 (GMT+3:00);
- – Inflation report in Canada at 15:30 (GMT+3:00).
by JustForex
