Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Currency Majors Show A Variety Of Trends

Published 11/20/2017, 08:01 AM
Updated 03/09/2019, 08:30 AM

Last week, trades on major currency pairs were quite active. The currency majors showed a variety of trends. The dollar index (#DX) closed the trading week in the negative zone. Ambiguous economic reports and disagreements in the draft laws on the tax reform between the Senate and the US House of Representatives put pressure on the American currency. At the moment, the financial market participants expect additional drivers. The attention this week will be focused on the publication of the FOMC protocols, which may indicate the further pace of increase in the range of the Fed's key interest rate.

The single currency is under pressure due to the growth of political risks in Germany. The Chancellor of Germany Angela Merkel said that negotiations on the creation of a coalition government were unsuccessful. Today, the publication of important economic reports is not planned. We recommend paying attention to the yield of US government bonds.

At the moment, prices for "black gold" are consolidating after a significant increase (by more than 2.5%) on Friday, November 17. Futures for the WTI crude oil are being traded near $56.50-$56.75 per barrel.

Market Indicators

On Friday, the major US stock indices closed in the negative zone: SPDR S&P 500 (NYSE:SPY) (-0.29%), SPDR Dow Jones Industrial Average (NYSE:DIA) (-0.65%), PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) (-0.38%).

At the moment, the 10-year US government bonds yield is at the level of 2.34-2.35%.

News background on the 2017.11.20:

We recommend paying attention to the ECB head Draghi's speech.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.