Concerns about the trading war beginning weakened yesterday after the US Congress representatives spoke out against the introduction of duties on steel and aluminum imports in the US. Also, yesterday the US President Donald Trump said that Canada and Mexico could avoid new duties if they got a compromise in the new agreement on the North American Free Trade Area (NAFTA). The US currency remains stable. The US dollar index (DX) closed with a small plus (+0.06%).
Now the attention of investors is focused on the development of the situation in Italy. On Sunday there were elections in Italy, following the results of which none of the political parties could get the majority of seats in the parliament. Meanwhile, the pound was supported against the activity indices growth, after the service sector activity had accelerated in February to 54.5. Reserve Bank of Australia, as expected, kept the interest rate at the previous level of 1.50%.
The “black gold” prices are increasing against the growth of demand for raw materials. Futures for the WTI crude oil are testing a mark of $62.75 per barrel. At 23:30 (GMT+2:00), a report on the API weekly crude oil stock will be published.
Yesterday, a bullish sentiment prevailed in the US stock market: SPY (+1.16%), DIA (+1.42%), QQQ (+1.11%).
At the moment, the 10-year US government bonds yield is at the level of 2.88-2.89%.
The news feed on 2018.03.06: