U.S. dollar remained at a 1-month high

Sentiment in the markets did not improve last week, so investors remained cautious, which led to the U.S. dollar remaining at its highest level in June. The growing number of new cases of the virus in the United States and the volatile economic data in the country do not allow market participants to expect a Form V recovery.

U.S. economic indicators remained highly volatile and supported concerns among market participants about future prospects. The preliminary manufacturing PMI index reached 49.6 points and recorded a marked recovery in sentiment among business participants, which was one of the most positive signs in recent weeks. Meanwhile, real estate secondary market sales fell -9.7% in May from a month earlier, but new home sales showed recovery and recorded a 16.6% rise from April. With the number of unemployed remaining high in the country, access to credit is likely to decline, which will reduce liquidity in the market while negatively affecting the number of transactions. The number of new jobless claims remained unchanged at 1.5 million per week.

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Release date

Lydbog: 29. juni 2020