by JustForex
During yesterday’s trading session, the US currency fell again relative to a basket of currency majors. The US dollar index (#DX) closed in the negative zone (-0.39%). Yesterday, the Fed meeting was held, during which the regulator left the key interest rate unchanged at 0.00-0.25% per annum. The Fed does not plan to raise interest rates, at least until the end of 2022. The regulator also said that according to its forecasts, the US economy would decline by 6.5% this year, and the unemployment rate would be 9.3% at the end of the year. This value of the Fed worsened investors’ sentiment and forced them to sell stocks and risky currencies.
Meanwhile, the number of cases on COVID-19 in the world has exceeded 7.36 million. The number of people infected with coronavirus in the United States has exceeded 2 million, while doctors urge everyone who took part in recent mass protests against racism to be tested. American protests that began over George Floyd’s death may lead to another outbreak in the coming weeks.
The “black gold” prices have been declining after a prolonged rally. Currently, futures for the WTI crude oil are testing the $38.00 mark per barrel.
Yesterday, there was a variety of trends in the US stock market: #SPY (-0.56%), #DIA (-1.07%), #QQQ (+1.20%).
The 10-year US government bonds yield has been declining. At the moment, the indicator is at the level of 0.70-0.71%.
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by JustForex