Analysis of the past week
The last working week of March was very volatile, thanks to
- the RBNZ meeting results, which hinted at the possibility of reducing rates,
- Brexit vote, which once again did not receive support
- and US data that asked the mood for the US dollar.
Thus, the week was very active, despite the fact that most of the fundamental factors did not receive any development. The Brexit question remains open, despite the official end of the transition period. And the US-China trade negotiations continue nominally without any results.
The US dollar index for the week showed steady growth, about 0.95% against a basket of major competitors. Thus, it retreated from monthly lows, returning to the annual uptrend, but limited to overbought and resistance levels: 97.50 and 9.70. Support is located on the marks: 97.00 and 96.70.
Fig. The US dollar index H4 chart. Current price – 97.20 (10-year government bonds yield – blue line)
Hanzenko Anton