HomeContributorsFundamental AnalysisThe US Dollar Is Consolidating

The US Dollar Is Consolidating

The US dollar is changing slightly against a basket of major currencies. Today, on August 19, licenses for US companies for business cooperation with Huawei expire. However, US President Donald Trump has not yet decided whether to renew the license or not. US-China trade relations are still tense. On Friday, The National Development and Reform Commission of the People’s Republic of China said that China would implement a program to stimulate incomings growth in order to avoid a slowdown in economic growth. The US dollar index (#DX) closed the trading session with a slight increase (+0.19%).

Also, optimistic economic data from the US were published on Friday. So, the number of building permits issued in the US rose to 1,336M in July, while experts expected 1,270M. The US currency was supported by the fact that the 10-year US government bonds yield finally moved away from local lows on Friday.

The euro is still under pressure after weak economic reports published last week. Today, we expect the publication of the consumer price index in the Eurozone.

The “black gold” prices show positive dynamics. At the moment, futures for the WTI crude oil futures are testing the $55.25 mark per barrel.

Market Indicators

  • On Friday, the bullish sentiment was observed in the US stock markets: #SPY (+1.48%), #DIA (+0.98%), #QQQ (+1.61%).
  • The 10-year US government bonds yield has been growing. At the moment, the indicator is at the level of 1.60-1.61%.

The news feed for 2019.08.19:

  • Consumer price index in the Eurozone at 12:00 (GMT+3:00).
JustForex
JustForexhttps://justforex.com/?utm_source=actionforex&utm_medium=article&utm_campaign=analytics
JustForex is a broker which helps people to earn on the financial markets providing them with the beneficial conditions. Being an international broker and working with clients from different countries we understand that every person is unique with his own values, no matter whether he is a trader or a partner. When our team develops the services of the company, we take into account the variety of cultures, nations, trading experience and demands of our clients. JustForex offers several trading account types with a wide choice of trading instruments and everyone can find the most suitable one according to his preferences.

Featured Analysis

Learn Forex Trading