U.S. data

• Factory orders (m/m) (Feb),  fact-0.5%,  forecast-0.5%.

Data on industrial orders in the US for February fully coincided with forecasts and slowed down. The overall dynamics of this indicator remains restrained negative, indicating a decrease in volumes in the US industry.

During the day, the US dollar remains under the pressure across the market, due to a number of factors. In addition to the technical correction against Friday, the pressure on the US dollar comes from negative sentiment and political risks in the White House. Political risks in the United States are due to the resignation of the Minister of National Security and the growing tenses in the relationship between the United States and Mexico.

As a result, the US dollar index collapsed against a basket of competitors for psychological support of 97.00. This level is a significant support for the American dollar, where a rebound is expected. In the conditions of preserving political risks and breaking through support of 97.00, an American dollar may be on the way of a more significant reduction. Support levels are: 97.00 and 96.80-70, resistance: 97.20-30.

Fig. 1. The US dollar index chart. The current price is 97.00 (10-year government bonds yield is the blue line)

Read also: “Emerging markets and their prospects: Chinese yuan”

Hanzenko Anton

---

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Stock indices and their impact on the Forex market
2. World central banks are preparing for lower rates
3. Financial quarter correction

Current Investment ideas:

1. Johnson & Johnson shares are growing again! Connect to an investment idea now!
2. CAT shares give SUPER-opportunity to earn in April!
3. Citigroup Inc. shows good potential for the growth. And on this we can earn! Get connected!