Analysis of the past day
On Monday, trading throughout the day was very restrained, remaining at the mercy of risks and technical correction against Friday’s dynamics. At the same time, common weekly and monthly trends remained, despite the correction and flat. Safe haven currencies showed a notable growth: the Japanese yen and the Swiss franc. The demand for these currencies has increased due to the weakness of the dollar and the persistence of negative sentiment.
From the start of the day, stock indices have been trading lower, showing a major decline in European trading. The increased pressure on European stock indices is connected with the political risks of elections to the European Parliament. (Nikkei 225 +0.24; DAX -1.50; FTSE 100 -0.50; Dow 30 -0.20)
At the end of the day, the US dollar index showed a moderate decline in the correction against Friday, having rebounded from the resistance of 98.00, but maintaining the upward trend of recent weeks. By this, he pointed to the preservation of the potential for growth and the limited levels of support: 97.90 and 97.80. Resistance levels: 98.10 and 98.20.
The US dollar index chart. The current price is 97.90 ( 10-year government bonds yield is the blue line)
Hanzenko Anton