Greenback’s strength is limited, Yen Keeps Falling

Market Reviews

The greenback has slightly increased but backed down. Yen has significantly fallen. DOW and S&P 500 reached fresh maximums of 21528.99 and 2453.46. Nikkei increased 0.81% to close at 20230.41. US 10 year yield lifted 0.033 and settled at 2.190. Still, it remains restricted under 2.229 resistance. USD index is staying under 97.77 resistance. Euro/Dollar stuck over 1.1109 support. Charles Evans (Chicago Fed President) said that Fed should think about another rate hike only in the end of this year. He claimed weak inflation to be the basis of his assumption. William Dudley (New York Fed President) stated that inflation will improve and salaries will start growing due to good shape of the labour market.

Yesterday, Britain and European Union started their negotiations. They will be focused on the Britain’s financial responsibilities before the EU, status of the EU citizens in UK and borders between Ireland and Northern Ireland. The next meetings will be July 17, August 28, September 18 and October 9.

Reserve Bank of Australia released the protocol of its meeting. Members believe that economic growth will boost. They discussed housing and employment, which should be controlled and improved as wages growth is weak and household debt is high.