Analysis of the past day - Ester Holdings

Analysis of the past day

As a result of Monday, the US dollar index fully recovered Friday’s losses due to a correction, which was provoked by the sale of the British pound. The reason for the decline of the British currency was ambiguous political behavior of British Prime Minister T. May, who announced the postponement of the vote on Brexit, and then announced its revision, which only aggravated the uncertainty about Brexit, and caused the collapse of European currencies against the US dollar.

The stock markets on the growing uncertainty in Europe and maintaining the tense situation in the US-China trade were downward, increasing the pressure on risky assets (Nikkei 225 -2.12; DAX -1.70; FTSE 100 -0.60; Dow 30 – 1.80).

At the end of the day, the US dollar index completely corrected itself against the decline last week and returned to the uptrend, thus entrenched itself above the psychology of 97.00 and aimed at resistance 97.20-30. At the same time, it is worth noting a significant overbought of the dollar and a possible correction. Support levels are located at the levels: 97.00 and 96.80.

The US dollar index chart. The current price is 97.10 (10-year government bonds yield is the blue line)

Hanzenko Anton

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