The EU Summit Is in the Spotlight. The Central Bank of China Has Kept its Key Interest Rate Unchanged.

The US dollar is losing ground against its main competitors. On Friday, the US dollar index (#DX) has updated local lows and closed in the negative zone (0.45%). Investors are still concerned about an increase in the number of people infected with COVID19. Last week, the United States reported a new antirecord. At the moment, the number of people infected with coronavirus worldwide has reached 14.5 million.

The EU summit in Brussels, where the leaders of the countries discuss the bloc’s budget for 20212027 and an anticrisis economic recovery plan, is in the spotlight. In June, Japan’s exports fell by 26.2% (y/y). The central bank of China left its key rate unchanged at 3.85% for the third month in a row.

The “black gold” prices have been declining. At the moment, futures for the WTI crude oil are testing the $40.40 mark per barrel.

Market indicators

On Friday, there was a variety of trends on the US stock market: #SPY (+0.29%), #DIA (0.27%), #QQQ (+0.12%).

The 10year US government bonds yield is consolidating. At the moment, the indicator is at the level of 0.610.62%.

• Consumer price index in the Eurozone at 12:00 (GMT+3:00);
• Statistics on the US real estate market at 15:30 (GMT+3:00).

by JustMarkets, 2020.07.20