During yesterday's trading session, the US currency strengthened against the basket of major currencies. However, investors are concerned that the trade war between the US and China may resume, as the two countries have not reached any agreements. Both countries presented each other long lists of demands, with China claiming to cancel additional tariffs, and the US expressing concern about intellectual property rights. The US dollar index (#DX) closed in the positive zone (+0.22%) yesterday.
The speech by US President Donald Trump, who should decide whether to exit from the Iran nuclear deal, takes the spotlight today. The extension of sanctions can prompt new geopolitical concerns. Data on producer prices and consumer inflation, which will be published on Wednesday and Thursday, also will have impact on the US dollar.
The Australian dollar is under pressure today due to weak data on retail sales, which counted to 0.0%, while investors expected the value of 0.2%.
At the moment, the "black gold" prices are declining. Futures for the WTI crude oil are testing a mark of $70.15.
Market Indicators
On Friday, a bullish sentiment was observed in the US stock market: #SPY (+0.34%), #DIA (+0.37%), #QQQ (+0.83%).
At the moment, the 10-year US government bonds yield is at the level of 2.94-2.95%.
The news feed on 2018.05.08:
- JOLTS job openings at 17:00 (GMT+3:00).
Also we recommend paying attention to the speeches of the Federal Reserve Chairman Jerome Powell and the US President Donald Trump.