The Dollar Index Keeps the Current Levels. The Bank of Canada Meeting Is in the Focus of Attention

Yesterday, the US currency slightly strengthened against the basket of major currencies. The US dollar index closed in the positive zone (+0,04). The euro weakened due to weak statistical data. In July, the ZEW economic sentiment index in Germany fell to -24.7 and was worse than the forecasted value of -18.0. The British pound was under pressure after the release of ambiguous reports on GDP and output in the manufacturing sector. Also, a tense political situation in the UK put pressure on the pound.

Today, the attention of the financial market participants is focused on the Bank of Canada meeting. It is expected that the regulator will raise the key interest rate by 25 basis points to 1.50%. We recommend paying attention to the comments of the Central Bank representatives.

The "black gold" prices are consolidating. At the moment, futures for the WTI crude oil are testing a mark of $73.65 per barrel. At 17:30 (GMT+3:00), a report on the US crude oil inventories will be published.

Market Indicators

Yesterday, the major US stock indices closed in the positive zone: #SPY (+0.36%), #DIA (+0.56%), #QQQ (+0.07%).

At the moment, the 10-year US government bonds yield is at the level of 2.84-2.83%.

The news feed on 2018.07.11:

- Producer price index in the US at 15:30 (GMT+3:00);
- Bank of Canada interest rate decision at 17:00 (GMT+3:00).

We also recommend paying attention to the speech by the heads of the ECB and the Bank of England.

by JustForex, 2018.07.11

We advise you to get acquainted with the daily forecasts for the major currency pairs.

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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