Yesterday we observed an increase in stock indexes after the release of data on inflation and the fall of the dollar index, which showed the worst results since December 2014.
The market showed mixed data as the bond yields renewed 4-year highs, inflation data came in positive and the probability of a rate hike has increased from 78% to 83%. It was expected that the dollar would strengthen based on this, but the market decided otherwise.
Today we expect the release of a number of macroeconomic indicators in the US including the producer price index and the index of manufacturing activity from the Federal Reserve Bank of Philadelphia.
Energy prices have started to recover after the decline of the weakening dollar, comments by the Minister of Energy of Saudi Arabia and an increase in demand, despite record rates of increase in US production. At the moment the volume of US production is 10.27 million barrels per day.
The depreciation of the dollar has an impact on the market prices and cryptocurrencies are not left behind. Bitcoin crossed the mark of $9,000 and already came close to $10,000 to show a positive trend for a second week.
