The American accelerated the decline

The publication of restrainedly negative data on Europe increased the pressure on the American currency.

• The index of the business climate of Germany’s IFO is 102.2, the forecast is 102.7.
• UK GDP (y/y) is 1.2%, the forecast is 1.2%.

To a greater extent, the pressure on the American was exerted by weak data on Germany, it acted as a trigger for the technical correction of the American on the repulsion from psychology 94.00. Also, this movement was due to the growth of European stock markets, which demonstrate growth on the reduction of economic risks in the euro area and the UK.

The dollar index, despite the technical correction before the weekend and the general growth of optimism, continues to maintain an upward trend, and in the decline will be limited to support levels: 93.60 and 93.40.

Fig. the US dollar index. The current price is 93.80 (the yield of 10-year government bonds is a blue line)

Also, read “China – the main locomotive of the world economy”

Andre Green