During yesterday’s trading, investors’ sentiment about the US currency improved slightly when South Korean officials said that North Korea was ready to give up on nuclear weapons if the regime was observed, and the US President Donald Trump pointed at the progress regarding the possible negotiations with North Korea. However, the US dollar is under pressure due to the possible introduction of duties on imports of aluminum and steel in the US. The US dollar index (DX) closed in the negative zone (-0.53%).
Euro also remains under pressure after the announcement of the results of the parliamentary elections in Italy. Due to the fact that none of the parties won the majority of seats in the parliament, the country may sink into a long period of political instability, which may affect the economy of the Eurozone.
Investors fixed the positions before the meeting of the Bank of Canada on Monetary Policy, which will be held today at 17:00 (GMT+2). It is expected that the regulator will leave interest rates unchanged. We recommend you to pay attention to the rhetoric and comments of the Central Bank representatives.
The “black gold” prices are decreasing against the growth in weekly stocks and extraction of raw materials in the US. Futures for the WTI crude oil are testing $62.10 per barrel. At 17:30 (GMT+2:00), a report on the crude oil inventories in the US will be published.
Market Indicators
Yesterday, bullish sentiment prevailed in the US stock market: SPY (+0.25%), DIA (+0.00%), QQQ (+0.42%).
At the moment, the 10-year US government bonds yield is at the level of 2.85-2.86%.
The news feed on 2018.03.07:
