Demand for the US Dollar Is Recovering. Washington-Beijing Trade Conflict Is Still in the Spotlight

The US dollar strengthened against a basket of major currencies after the publication of optimistic economic data from the US. So, the core retail sales index rose by 1.0% in July, while experts expected growth by only 0.4%. Retail sales also increased by 0.7% in July instead of 0.3%. The US dollar index (#DX) closed the trading session in the positive zone (+0.19%).

Statements by US President Donald Trump regarding the possibility of resolving the trade conflict between Washington and Beijing supported the US currency. The President believes that the trade war with China will not last long. Trump recalled that the meeting with representatives of the United States and China should still be held in September in Washington. It was noted that in addition to meetings, countries were negotiating by phone, and according to Trump, the negotiations were more than good.

The "black gold" prices show positive dynamics. At the moment, futures for the WTI crude oil are testing the $55.25 mark per barrel.

Market Indicators

Yesterday, there was a variety of trends in the US stock markets: #SPY (+0.26%), #DIA (+0.50%), #QQQ (-0.11%).

The 10-year US government bonds yield continues to decline. At the moment, the indicator is at the level of 1.55-1.56%.

The news feed for 2019.08.16:

- Statistics on the real estate market in the US at 15:30 (GMT+3:00).

by JustForex, 2019.08.16

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.

Registration

Get Free Analytics

* required fields