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Analysis of the past day
On Thursday, trading in the foreign exchange market was mostly multidirectional. The reason for the ambiguous movement of the market was the statistics and the change in sentiment regarding the US dollar. After yesterday’s comments by the US Federal Reserve Chairman Powell, the US currency remained under the pressure while waiting for a quick decline in the US rates. But very positive inflation data in the United States renewed optimism on the US currency.
Stock indices throughout the day were traded in different directions, remaining under the pressure. (Nikkei 225 + 0.51; DAX-0.40; FTSE 100 -0.30; Dow 30 + 0.50)
The US dollar index showed multidirectional dynamics due to data on the US, but continued to limit itself to the expectation of stimulating the US economy. The return of the dollar index under the mark of 97.00 will confirm keeping the downward trend, and resume sales.
Fig. The US dollar index chart. The current price is 97.00 (10-year US government bonds yield is the blue line)
Hanzenko Anton