The US dollar weakened against a basket of major currencies after the Fed meeting. The regulator left the interest rate in the range of 2.25-2.50% per annum but made it clear that it could cut the rate even by half a percentage point before the end of the current year due to the uncertainty in the economy and the weak rate of inflation. The US currency is under pressure as a result of the news that US President Donald Trump believes that he has the authority to appoint another head of the Fed instead of Jerome Powell. The US dollar index #DX closed yesterday in the negative zone (-0.59%).

The Bank of Japan, in turn, left the main parameters of monetary policy unchanged, as well as confirmed plans to keep the key rate at the “extremely low” level until spring 2020. Today, the Bank of England meeting is in the focus of attention. As analysts forecast, the regulator will keep the interest rate unchanged at 0.75%.

The “black gold” prices are rising due to the reduction of US oil inventories. At the moment, futures for the WTI crude oil are testing the mark of $55.45 per barrel.

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Market Indicators

  • Yesterday, the bullish sentiment was observed in the US stock market: #SPY (+0.23%), #DIA (+0.09%), #QQQ (+0.38%).
  • The 10-year US government bonds yield dropped significantly. At the moment, the indicator is at the level of 2.00-2.01%.

The news feed on 2019.06.20:

  • Report on retail sales in the UK at 11:30 (GMT+3:00);
  • Bank of England interest rate decision at 14:00 (GMT+3:00);
  • Philadelphia Fed manufacturing index at 15:30 (GMT+3:00).

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