The US Dollar Has Slightly Weakened

The majors continue to show a variety of trends. Yesterday, the US dollar fell slightly against the leading currencies. The dollar index (#DX) closed the trading session in the negative zone (-0.12%). The negative dynamics of the US government bonds yield put pressure on the US currency. At the same time, the drop was soft due to optimistic statistics on the labor market. In October, sales in the secondary housing market in the US rose by 2.0% to 5.48M.

The Fed's Chairman Janet Yellen said that too slow growth of the interest rates could have a negative impact on the labor market. At the same time, the rapid tightening of monetary policy can slow the rate of inflation, which is below the target level. Today, the attention of the financial market participants will be focused on the publication of the FOMC protocols, which may indicate further rates of increase in the Fed's key interest rate.

At the moment, there are aggressive purchases on the "black gold" market. Futures for the WTI crude oil reached $58 per barrel. The American Petroleum Institute said that over the past week, US crude oil inventories fell by 6.356M barrels, while the forecasted mark was 1.500M barrels.

Market Indicators

Major US stock indexes are testing historical highs: #SPY (+0.65%), #DIA (0.67%), #QQQ (+1.09%).

At the moment, the 10-year US government bonds yield is at the level of 2.34-2.35%.

The news background on 2017.11.22:

- Report on orders for durable goods in the US at 15:30 (GMT+2:00);
- Crude oil inventories in the US at 17:30 (GMT+2:00);
- Publication of the FOMC protocols at 21:00 (GMT+2:00);
- Statistics on retail sales in New Zealand at 23:45 (GMT+2:00).

Disclosure: None.

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