During yesterday's trading, the US dollar strengthened against the major currencies. The dollar index (#DX) closed the trading session in the positive zone (+0.24%). The US published quite optimistic statistics. In November, the producer price index met market expectations and increased by 0.4%. At the same time, the growth of the US dollar was quite moderate due to a drop in government bond yields at the end of the US trading session.
At the moment, the majors are consolidating. Participants of the financial markets are waiting for the Fed's meeting. Experts believe that the regulator will raise the key interest rate by 25 basis points to 1.50%. Investors assess the probability of tightening monetary policy in more than 90%. We recommend paying attention to the comments and rhetoric by the Fed's representatives. The Central Bank may point to further rates of increase in the key interest rate.
Yesterday, sales prevailed on the "black gold" market. This movement was mostly caused by technical factors. Investors expect a report on crude oil inventories in the US at 17:30 (GMT+2:00). Futures for the WTI crude oil are testing a mark of $57.5 per barrel.
Market Indicators
Major US stock indices showed a variety of trends: #SPY (+0.18%), #DIA (+0.52%) and #QQQ (-0.13%).
The United States 10-Year government bonds yield has moved away from local highs. At the moment, the indicator is at the level of 2.39-2.40%.
Today we recommend you to pay attention to the following statistics:
- A report on the UK labor market at 11:30 (GMT+2:00);
- The volume of industrial production in the Eurozone at 12:00 (GMT+2:00);
- The basic consumer price index in the US at 15:30 (GMT+2:00);
- The decision on the Fed's interest rate at 21:00 (GMT+2:00).