Yesterday, the US dollar continued to strengthen against the basket of the major currencies. The Fed`s Chairman Jerome Powell`s speech continues to support the US currency towards the Congress, which was held on Tuesday. The official said that the federal reserve will continue to gradually increase the interest rate in order to maintain stable economic growth. At the same time, the growth of the US currency was restrained due to the weak economic reports. The US dollar index (#DX) reached a five-week high and closed in the positive zone (+0.37%).

The pound was under pressure yesterday after negotiations on the Brexit. The European Commission published a draft Brexit project, which proposed to create a “single regulatory zone” for Ireland after the country left the union. Prime Minister Theresa May said that the UK government would not approve a separate customs agreement for Northern Ireland. The draft agreement raised the issue of the application to the European Court of Justice.

The “black gold” prices are stable after a sharp decline the day before. Futures for the WTI crude oil are testing the mark of $61.75 per barrel.

Market Indicators

Yesterday, there were aggressive sales in the US stock market: #SPY (-1.01%), #DIA (-1.48%), #QQQ (-0.64%).

At the moment, the 10-year US government bonds yield is at the level of 2.86-2.87%.

The news feed on 2018.03.01:

– A number of manufacturing PMI in Germany, the Eurozone, and the UK at 10:55 (GMT+2:00), 11:00 (GMT+2:00) and 11:30 (GMT+2:00), respectively; 
– Statistics on personal income and spending in the US at 15:30 (GMT+2:00); 
– The index of business activity in the manufacturing sector in the US from ISM at 17:00 (GMT+2:00).

Investors will follow the speech of the Fed`s chairman.