Yesterday, the US dollar continued to strengthen against the major currencies. Pound demonstrated the biggest drop. In March, the UK consumer price index fell by 0.1% compared to the increase by 0.4% in February. Year-on-year, the figure counted to 2.5%, while investors expected a value of 2.7%. The consumer price index in the Eurozone also fell to 1.3% instead of the forecasted value of 1.4%. The Fed's "Beige Book" was optimistic, which indicates a positive trend for the US currency. The US dollar index (#DX) closed with a plus (+0.13%) yesterday.
Yesterday, the Bank of Canada meeting was held, at which it was decided to keep the interest rate at the previous level of 1.25%. The governor of the Bank of Canada Stephen Poloz believes that the economy is still not strong enough and interest rates should remain at current levels. Today, investors focus on economic reports from the UK and the US.
The "black gold" prices are increasing after the publication of data on the decline in the US stocks of raw materials. At the moment, futures for the WTI crude oil are testing a mark of $68.75 per barrel.
Market Indicators
Yesterday, there was a variety of trends in the US stock market: #SPY (+0.07%), #DIA (-0.17%), #QQQ (+0.20%).
At the moment, the 10-year US government bonds yield is at the level of 2.86-2.87%.
The news feed on 2018.04.19:
- The volume of retail sales in the UK at 11:30 (GMT+3:00);
- Philadelphia Fed manufacturing index at 15:30 (GMT+3:00);
- ADP nonfarm employment change in Canada at 15:30 (GMT+3:00).