Analysis of the past day - Ester Holdings

Analysis of the past day

An ambiguous dynamics remained in the currency market on Friday trades. The optimism around the US-China trade negotiations supported commodity currencies, forcing them to strengthen against the US dollar. But the dynamics of the US dollar index versus the basket of competitors was very restrained and limited by the side channel.

The stock exchanges close the day and the week with a significant strengthening despite an attempts of correction at the beginning of the day. It was facilitated by optimism around the US-China trade talks (Nikkei 225-1.13; DAX +1.90; FTSE 100 + 0.80; Dow 30 +1.30).

The US dollar index closes the week slightly above the opening of the day level, limited to the trading range of Thursday. The monthly uptrend persists despite slowing growth and flat formation, indicating the possibility of a resistance test: 97.50 and 97.70. Support is located at levels: 97.00 and 96.80-70, the update of which will indicate the possibility of a deeper correction.

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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