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Analysis of the past week
The outgoing week was very volatile and eventful. The publication of the ECB meeting results can be called the main event of the week. This event caused a strong increase in market volatility in the euro and the US dollar. In addition to the volatility of the euro, the collapse of the US dollar was caused by an increase in the likelihood of Fed rate cuts following incentives in the eurozone.
As a result, the weekly volatility of the US dollar index was 1.1%, the lion’s share of which fell on Thursday trades. The US dollar index closes the week with a decline, despite updating the high at 99.10. The American dollar found a support at the levels: 98.10-00, retaining the possibility of growth while maintaining the overall upward trend. But continuing to remain under the pressure from expectations of rates cut in the United States.
Fig. The US Dollar Index Chart H4. Current price – 98.30 (10-year government bonds yield- blue line)
Hanzenko Anton