Analysis of the past week

The first full week turned out to be very positive for the US dollar, this was due to an increase in expectations of a rapid conclusion of a trade deal between the US and China. Against the backdrop of speculation on this issue and even the expectation of a partial lifting of trade duties on the market, there was a significant increase in optimism. First of all, it supported the American dollar and increased pressure on safe assets and partially European ones.

The US dollar index for the week showed a steady and uniform growth against a basket of competitors, gaining 1.22%. Thus, it confirmed breaking of the October downtrend and the formation of an upward correction, which will be further limited by the resistance levels: 98.50 and 98.80.

Fig. The US Dollar Index Chart H4. Current price – 98.30 (10-year government bonds yield – blue line)

Hanzenko Anton