Currency Majors Show a Variety of Trends. The British Parliament Is on Vacation

The US dollar has not changed much against a basket of major currencies. The dollar index (#DX) ended the trading session with a slight decrease (-0.12%). Investors expect news on the progress in trade relations between the United States and China. So, yesterday, US Treasury Secretary Steven Mnuchin said that the United States made great progress in negotiations with the PRC.

Members of the House of Commons of the British Parliament once again voted against the holding of early elections in the country. Last week, officials voted against a similar proposal. British Prime Minister B. Johnson believes that the UK needs early elections, as he failed to advance his idea of leaving the country from the EU without an agreement. The official said that he would fight for a deal with the EU, but did not exclude Brexit without an agreement.

After parliament voted against early elections, it officially suspended its work until October 14. At this time, the discussion of any legislative acts will be stopped. The current parliamentary session is the longest in the history of the British Parliament in almost 400 years. It lasts from June 2017.

In addition, important economic data from the UK was published yesterday. So, GDP (q/q) remained unchanged, while experts expected a decrease of 0.1%. The volume of production in the manufacturing industry grew in July by 0.3%, while experts expected a decrease of 0.1%. Today, investors will evaluate the report on the labor market in the UK.

The "black gold" prices continued to rise. Currently, WTI crude oil futures are testing the $58.15 per barrel mark. At 23:30 (GMT+3:00) weekly stocks will be published according to the American Petroleum Institute.

Market indicators

In the US stock markets yesterday, a variety of trends were observed: #SPY (+0.05%), #DIA (+0.18%), #QQQ (-0.21%).

The 10-year US government bonds yield started to grow. At the moment, the indicator is at the level of 1.63-1.64%.

The news feed on 2019.09.10:
  • - The UK labor market data at 11:30 (GMT+3:00);
  • - The number of open jobs in the JOLTS labor market in the USA at 17:00 (GMT+3:00).

by JustForex, 2019.09.10

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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