Currency Majors Are Consolidating

Yesterday’s trading on the major currency pairs were fairly calm. Unidirectional trends were not observed. The dollar index (DX) kept the current levels and completed the trading session with a slight increase (+0.07%). Support was provided by the positive dynamics of the US government bonds. It should be recalled that the key event in the current trading week will be the Fed’s meeting, which will be held on December 13.

At the moment, the majors are consolidating. Participants of the financial markets expect additional drivers. In the coming days, trading activity and volatility can significantly increase. Important statistical data is expected to be published. On Thursday, December 14, there will be press conferences of the National Bank of Switzerland, the Bank of England and the ECB. Most experts believe that regulators will leave interest rates unchanged. At the same time, it is necessary to pay attention to the comments and rhetoric of the Central Banks representatives.

In the market of “black gold”, the bullish sentiment prevails. Yesterday, futures for the WTI crude oil rose by more than 1.2%. At the moment, the price is testing the mark of $58.40 per barrel.

Market Indicators

The main US stock indexes once again closed in the positive zone: SPY (0.30%), DIA (0.23%) and QQQ (0.78%).

At the moment, the 10-year US government bonds yield is at the level of 2.38-2.39%.

The news feed on 2017.12.12:

We also recommend paying attention to the speech by the ECB head Draghi.