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The US Currency Is Delining

The US dollar is declining against a basket of currency majors. Yesterday, the US dollar index (#DX) updated local lows and closed in the red zone (-0.39%). US President Donald Trump drew new criticism on Tuesday after returning from the hospital after four days of treatment for COVID-19. At the same time, he urged people not to be afraid of the disease. Trump arrived at the White House and defiantly removed his surgical mask on-camera. “I learned a lot about COVID. Don’t let it dominate you. Don’t be afraid of it. You’re going to beat it. We have the best medical equipment. We have the best medicines, all developed recently,” said the US President.

The British pound is growing after British Prime Minister Boris Johnson and President of the European Commission Ursula von der Leyen agreed to reopen talks on a post-Brexit deal. The British pound is also supported by optimistic economic data. Thus, the composite PMI index counted to 56.5 in September, while experts expected 55.7. Services PMI counted to 56.1 and turned out to be better than the forecasted of 55.1.

Today, during the Asian trading session, the Reserve Bank of Australia has kept its interest rate unchanged. As expected, the regulator left the indicator at 0.25% per annum.

The “black gold” prices are consolidating. At the moment, futures for the WTI crude oil are testing the $39.30 mark per barrel. At 23:30 (GMT+3:00), API weekly crude oil stock will be published.

Market indicators

  • Yesterday, there was the bullish sentiment in the US stock market: #SPY (+1.77%), #DIA (+1.70%), #QQQ (+2.13%).
  • The 10-year US government bonds yield has started rising. The indicator has reached 0.76-0.77%.

The news feed for 2020.10.06:

  • UK construction PMI at 11:30 (GMT+3:00);
  • EIA short-term energy outlook at 15:00 (GMT+3:00);
  • JOLTS job openings at 17:00 (GMT+3:00).
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