Yesterday, the US dollar strengthened against the basket of the major currencies. Investors expect the results of the Fed meeting, which will be published today. Most financial markets participants believe that the regulator will raise the interest rate by 25 basis points to 1.75%. This event is already included in the price. We recommend paying attention to the comments by the Central Bank representatives regarding further monetary policy tightening. Today a meeting of the Reserve Bank of New Zealand will also be held. Experts expect that the regulator will leave the interest rate at the same level.
Euro was under pressure after it became known that the economic sentiment in Germany worsened sharply in March due to the concerns about a possible beginning of the trade war with the United States. These concerns arose after the US President Donald Trump introduced duties on the import of steel and aluminum in the US, which will come into effect this Friday.
The pound fell in price after the publication of the consumer price index in the UK, which decreased to 2.7%, while investors expected a value of 2.8%. Today, we recommend paying attention to the important economic reports from Great Britain.
At the moment, the "black gold" prices are consolidating after significant growth during yesterday's trading. Futures for the WTI crude oil are testing at $63.70 per barrel. At 16:30 (GMT+2:00) a report on the crude oil inventories in the United States will be published.
Market Indicators
Yesterday, there were purchases in the US stock market: #SPDR S&P 500 (NYSE:SPY) (+0.17%), #Dow Jones Industrial Average (+0.48%), #PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) (+0.33%).
At the moment, the 10-year US government bonds yield is at the level of 2.88-2.89%.
The news feed on 2018.03.21:
- Reports on the labor market in the UK at 11:30 (GMT+2:00);
- Existing home sales in the US at 16:00 (GMT+2:00);
- Fed interest rate decision at 20:00 (GMT+2:00);
- Interest rate decision of the Reserve Bank of New Zealand at 22:00 (GMT+2:00).