Analysis of the last week

The week passed under in an optimistic dynamics, which caused a significant strengthening of the US currency against the basket of major competitors. The American was strengthened due to the data on the progress of the tax bill in the US, expectations of employment growth and confidence in raising rates at the December meeting of the US Federal Reserve.

Despite the fact that the report on employment in the US did not justify the market’s expectations, and political risks persist, the US currency index remained faithful to the upward trend and did not go under correction much even based on weak data. But, despite this, the optimism in the market concerning dollar has significantly decreased, which can cause correction at the beginning of the week and before the Fed meeting.

Graph of the US dollar index H4. The current price is 93.850.

Hanzenko Anton