The US dollar fell against a basket of major currencies. The dollar index (#DX) closed yesterday’s trading session in the negative zone (-0.41%). The sentiment of financial market participants worsened after a tweet by the US President. Donald Trump tweeted the following: “Big day of negotiations with China. They want to make a deal, but do I? I meet with the Vice Premier tomorrow at The White House.” So now investors are still following the negotiations between the US and China with even greater attention. It is not yet clear whether countries will conclude an agreement.

Yesterday, weak US economic data was also published. So, the core consumer price index rose only by 0.1% in September instead of 0.2%. In addition, mixed reports were released in the UK. Thus, GDP (y/y) grew by 1.1% instead of 0.9%, but GDP (m/m) decreased by 0.1%, although experts did not expect any changes. Manufacturing production declined by 0.7% in August instead of the expected growth by 0.1%. At the same time, demand for the British pound has grown significantly due to the prospects for a settlement of the Brexit process. Irish Prime Minister, Leo Varadkar, said a Brexit agreement could be concluded by the end of October that would allow the UK to leave the European Union step by step.

The “black gold” prices have been growing. Currently, futures for the WTI crude oil are testing the $54.55 mark per barrel.

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Market Indicators

  • Yesterday, there was the bullish sentiment in the US stock markets: #SPY (+0.68%), #DIA (+0.60%), #QQQ (+0.77%).
  • The 10-year US government bonds yield increased significantly. At the moment, the indicator is at the level of 1.67-1.68%.

The Economic News Feed for 11.10.2019:

  • Report on the labor market in Canada at 15:30 (GMT+3:00).

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