The Dollar Index Is Testing Annual Highs

The US dollar strengthened against the basket of major currencies amid a weakening of political tension. Yesterday, White House Trade Advisor Peter Navarro pointed out that investors should not be afraid of the US intentions to limit Chinese companies' investments in the US technologies. This will not bring such negative consequences, as financial market participants predict. The US dollar index (#DX) closed in the positive zone (+0.45%).

Yesterday, CB consumer confidence index was also published, which counted to 126.4 in June, which was worse than the forecasted value of 127.6. However, this indicator did not particularly affect the American currency rate. Today, we recommend paying attention to economic news from the United States, as well as to speeches by the heads of the Bank of England and the Bank of Canada.

The "black gold" prices are consolidating after a significant rally during yesterday's trading session. At the moment, futures for the WTI crude oil are testing a mark of $70.80 per barrel. At 17:30 (GMT+3:00), a report on the US crude oil inventories will be published.

Market Indicators

Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.22%), #DIA (+0.15%), #QQQ (+0.41%).

At the moment, the 10-year US government bonds yield is at the level of 2.86-2.87%.

The news feed on 2018.06.27:

- Core durable goods orders in the US at 15:30 (GMT+3:00);
- Pending home sales index in the US at 17:00 (GMT+3:00).

We also recommend paying attention to speeches by the heads of the Bank of England Carney and Bank of Canada Poloz.

by JustMarkets, 2018.06.27

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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