The US dollar continues to consolidate against a basket of currency majors. The US dollar index (#DX) closed yesterday’s trading with a slight decline (-0.02%). Investors have taken a wait-and-see attitude before today’s speech by the Fed Chairman Jerome Powell at Jackson Hole. Experts expect hints from the official that the regulator will adjust its approach to monetary policy. Powell is also expected to begin formulating a new strategy for the US Federal Reserve aimed at achieving stability and employment. Trading activity and volatility may increase significantly.
Investors will also assess a number of important statistics on the US economy. Relations between Washington and Beijing have worsened again. On Wednesday, China fired four ballistic missiles into the disputed South China Sea, while the United States imposed sanctions on 24 Chinese companies.
The “black gold” prices are consolidating. At the moment, futures for the WTI crude oil are testing the $43.30 mark per barrel.
Market indicators
Yesterday, there was the bullish sentiment in the US stock market: #SPY (+1.00%), #DIA (+0.29%), #QQQ (+2.13%).
The 10-year US government bonds yield is consolidating. At the moment, the indicator is at the level of 0.67-0.68%.
The news feed for 2020.08.27:
- – Data on US GDP at 15:30 (GMT+3:00);
- – Initial jobless claims in the US at 15:30 (GMT+3:00);
- – Speech by the Fed Chairman at 16:10 (GMT+3:00);
- – Pending home sales in the US at 17:00 (GMT+3:00).
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