The US dollar remains under pressure: Consumer optimism is declining.

According to published preliminary data by the University of Michigan, consumer optimism in the US declined in November.

• The consumer expectations index by the University of Michigan in November was 87.6, against the October value of 90.5.
• The consumer sentiment index by the University of Michigan declined to the level of 97.8, which is lower than the previous value of 100.7.

The main pressure on the US currency is caused by the uncertainty in the tax reform in the US, the launch of which may be postponed by the end of 2019. See “Market is in anticipation of the amendments to the tax reform“

Due to this pressure, the US dollar index fell below a significant support level 94.33, which opens the way to the mark 93.94.

Fig. The US dollar index, current price of DXY is 94.230.

Alexander Sivtsov