flag-gb flag-my flag-zh flag-id flag-th flag-vi

USD dollar keeps on gaining, US president speech in market focus

On Tuesday, global equity markets retain restrained positive sentiment. Exactly on Monday, investors decided to the full extent to play out US Non-farm data released on Friday. Equity markets displayed good results and reached two-month highs. (DOW +0.70%, NASDAQ +1.15%, SP 500 +0.68%) and USD dollar shifted to the green side, updating two weeks high. Today positive market sentiment is preserved as US equity futures trade in the green indicating a positive Wall-Street start. Europe is displaying the positive sentiment as well. 
Asian part of the planet went on a large-scale holiday and this reduced trading activity in all markets, including cryptocurrency markets. Investors focus on US corporate reporting data and President Trump’s speech. We expect that the head of the United States will focus on economic issues as the news broke out that the president had lunch with Fed Chairman Powell and vice-chairmen Clarida.
As for US corporate profit reports, we need to highlight the earning data of the largest internet corporation –Google that provided its statement yesterday. The search giant exceeded market expectations, but its shares dropped as investors were concerned about company rising costs and expenses.
In the currency markets USD dollar kept on fluctuating and displayed restrained growth as USD index reached the mark 95.75 points. But shortly ahead of Wall-Street start the situation has changed somewhat – USD index moved to decline. We still have to test yet if US dollar reversal is able to accumulate the pace. It is curious how USD dollar reacts to Donald Trump speech in US congress.  European currency seems to complete a correctional move in area around 1.1410, having touched the daily low against the dollar after weak PMI indexes from Italy and France. 
Today  the cable has shifted to the red, dropping to 1.2980 day minimum after the worst-than-expected data on the business activity index (PMI) in the services sector. It is quite interesting that GBP reacts much quicker these days to USD dollar straight and weakness. We recall the last USD dollar massive decline was preceded by massive GBP gains.
Today Australian dollar is in market spotlight as AUD added 0.5% to $ 0.7265. Earlier Reserve Bank of Australia left the policy unchanged at its first meeting this year, but sounded less dovish than the markets had expected.
Next, traders will focus on the main event of the day - President Donald Trump’s report to the congress «on the state of the state». Later we will focus on US non-production indicators, ISM Non-manufacturing index.

Latest news

New amazing MegaProtect Bonus!

2020-01-13 09:10:06

WHAT ARE THE BENEFITS OF MEGAPROTECT BONUS? +100% of the deposited amount! 100% protection during the drawdown Up to 5000 USD per one account Up to 15000 USD per one profile

Christmas Fairytale 2019

2019-12-02 07:35:32

FortFS wishes its clients happy upcoming holidays and announces the start of the annual promotion – Christmas Fairy Tale! From December 02, 2019 to January 10, 2020 you can participate in the promotion and get up to $15 for every 10 closed lots with a trading account balance starting from only 100 USD! How to […]