Fundamental analytics

Daily News - Dollar Strengthens Against Major Competitors

1. The dollar index in Asia rose
2. Washington imposes duties on UK goods
3. Oil prices continue to renew highs
On Thursday in Asia, the US dollar is strengthening against all G7 currencies. The dynamics of long-term trading yields and statements by the head of the Federal Reserve Bank of Philadelphia Patrick Harker have a positive impact on the US currency. On the eve of Harker said that the Fed will keep rates at low levels for a long time, but the regulator may start discussing the issue of curtailing the asset repurchase program.
US Trade Representative Catherine Tai said Washington will impose tariffs on goods from the UK, Austria, India, Italy, Spain and Turkey in response to their tax hikes on US tech companies. The fees will be introduced with a delay of six months. During this time, the White House hopes to find a solution to the problem.
Oil prices are rising for the fourth day in a row as investors are betting on further recovery in fuel demand in the US, Europe and China. These expectations confirm OPEC forecasts, according to which in the 2nd half of the year the demand for oil will significantly exceed the supply volume. OPEC + data show that by the end of the year the demand for oil will be 99.8 million barrels per day against the supply of 97.5 million barrels per day.

News to watch out for today:
08:30 GMT. UK: Services PMI
12:15 GMT. USA: change in the number of people employed in the nonfarm sector from ADP
12:30 GMT. USA: number of initial claims for unemployment benefits
14:00 GMT. USA: Non-manufacturing PMI
15:00 GMT. USA: weekly EIA data on oil and petroleum products stocks