Analysis of the past day

On Thursday, December 7, the US currency strengthened across the entire spectrum of the market, receiving support from positive US statistics and positive expectations for the forthcoming employment report in the States. Also, support to the American was provided by the general flight of investors from commodity currencies because of the decline in the cost of raw materials. As a result, the US dollar index managed to update the maximum of the last two weeks.

At the end of the day, bitcoin also was popular and updated the historical maximum. On the other hand, European currencies, the euro and the pound, remained under pressure due to the Brexit negotiations and the strengthening of the American, which caused the weakening of the euro and the pound’s mixed fluctuations.

Despite the fact that the US dollar index appreciably strengthened based on the optimistic expectations of the market, the further growth of the American remains very difficult due to the overbought and expectations for tomorrow’s data on employment in the US. Therefore, in the near future one should expect a moderate correction of the American.

The graph of the US dollar index. The current price is 93,600.

Hanzenko Anton