The USD Index Updated the Local Highs Again

The US dollar keeps strengthening against the basket of major currencies despite the ambiguous economic reports. For example, the core durable goods orders show a 0.1% growth in September, which is below the expected value of 0.5%. Pending home sales index in September actually overshot the expected value of -0.1% and reached +0.5%. The demand for the American currency remains. Yesterday, the USD index (#DX) updated the local highs again and closed in the positive zone (+0.18%). Today the investors are lying in wait for the US GDP report.

The EUR keeps falling against the USD. The weak economic stats are pressuring the EU currency down. The IFO business climate index in Germany fell to 102.8, while the experts were expecting 103.1. The ECB keeps the basic parameters of the monetary policy at the same level.

The oil prices are showing negative dynamics. At the moment, the WTI futures are testing the rate of 66.5 USD/barrel.

Market Indicators

Yesterday, the US major stock indices started to recover: #SPY (+1.79%), #DIA (+1.68%), #QQQ (+3.46%).

The 10-year US government bonds yield continues to decline. At the moment, the indicator is at the level of 3.10-3.11%.

The news feed on 26.10.2018:

- The US GDP report – 15:30 (GMT +3:00).

We also recommend you keep an eye on the statements made by Mario Draghi – the President of the European Central Bank.

by JustForex, 2018.10.26

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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