The Dollar Index Is Consolidating. Reserve Bank of New Zealand Collapsed Kiwi and Aussie

The US dollar won back part of losses during yesterday's trading session. The US dollar index (#DX) closed in the positive zone (+0.11%). However, the US currency is still under pressure due to tensions between the US and China. The US Treasury has officially accused China of manipulating the national currency. At the same time, US President Donald Trump tried to suttle fears about a trade war with China and wrote on Twitter that the United States have a "very strong position."

During the Asian trading session, the Reserve Bank of New Zealand has taken a decision on the key interest rate. Thus, the regulator unexpectedly lowered the indicator by 50 basis points to 1.00% per annum, while experts expected the interest rate to be lowered to just 1.25%. This decision of the Central Bank caused aggressive sales of Kiwi and Aussie.

The black gold prices are still declining. The WTI crude oil futures are currently testing the $53.45 per barrel mark. At 17:30 (GMT+3:00), the US crude oil inventories will be published.

Market Indicators

The bullish sentiment was observed yesterday in the US stock markets: #SPY (+1.40%), #DIA (+1.24%), #QQQ (+1.40%).

The 10-year US government bond yield fell sharply again. At the moment, the indicator is at the level of 1.68-1.69%.

The news feed for 2019.08.07:

- The index of business activity from Ivey in Canada at 17:00 (GMT+3:00).

by JustForex, 2019.08.07

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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