The US and China Had a "Constructive" Dialogue. FOMC Minutes and Bank of Canada Meeting Are in the Focus of Attention

The US dollar continues to keep positions against a basket of major currencies. Yesterday, the US dollar index (#DX) closed trading session in the positive zone (+0.11%). Investors expect the publication of the FOMC meeting minutes, as well as the speech by Fed Chairman Jerome Powell with a semi-annual monetary report in the House Committee on Financial Services. The official is expected to give insight into how the next Fed meeting will be held and what to expect from it.

White House Economic Advisor, Larry Kudlow, said that US Trade Representative, Robert Lighthizer, and Treasury Secretary, Steven Mnuchin, had “constructive” phone talks with Chinese Vice Premier, Liu He, and Commerce Minister, Zhong Shan, yesterday. Both parties continue to make efforts to resolve the trade conflict. Kudlow said the talks "went well." It is also reported that the parties plan a personal meeting, but Kudlow believes that there is no easy way to reach a trade deal.

The Bank of Canada meeting will also take place today. It is expected that the regulator will keep the key marks of monetary policy at the same level. We recommend paying attention to the comments by the Central Bank representatives.

The "black gold" prices have been growing. At the moment, futures for the WTI crude oil are testing the mark of $59.00 per barrel. At 17:30 (GMT+3:00) crude oil inventories will be published in the US.

Market Indicators

Yesterday, there was a variety of trends in the US stock markets: #SPY (+0.12%), #DIA (-0.07%), #QQQ (+0.50%).

The 10-year US government bonds yield is growing. Currently, the indicator is at the level of 2.09-2.10%.

- Data on UK GDP at 11:30 (GMT+3:00);
- Manufacturing production in the UK at 11:30 (GMT+3:00);
- The Bank of Canada interest rate decision at 17:00 (GMT+3:00);
- FOMC meeting minutes at 21:00 (GMT+3:00).

by JustMarkets, 2019.07.10

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.