Analysis of the past day

On Thursday, September 6, the US currency remained under pressure against the basket of major competitors amid lower risks and stronger stock indices. Additional pressure on the dollar on the day was from weak data on the US, which eventually strengthened the correction of positions ahead of tomorrow’s  employment  report in the US.

Against the background of the expectation of the monthly employment report in the United States (NFP), the demand for safe harbor currencies has increased, which is connected with preserving the risks of trade confrontation and restrained expectations for employment in the US. As a result, investors preferred to reduce their positions in the US currency.

Stock indexes were mostly traded in the red zone throughout the day, despite attempts to grow (Nikkei 225 -0.51, DAX-0.60 FTSE 100 -0.70, Dow 30 -0.205). Because of the persistence of concerns about the new fees from the US.

The dollar index during the day was trading near psychology at 95.00, maintaining a general upward trend, but also limited to the risks of upcoming employment data. As a result, the trading range was formed from 95.20-30 to 94.90-80, confirming the uncertainty of the market.

Hanzenko Anton