An analysis of the previous day

At the auction on Friday, October 20, the US dollar based on the data on the progress of the Trump’s tax reform and positive expectations in the market resumed growth against the main competitors. As a result, the US dollar index returned to weekly highs and confirmed the upward trend. Given the high level of optimism about the American and the expectation of higher rates in the US this year, the US dollar will continue to trade in an uptrend.

The euro appreciably weakened against the US dollar on the general strengthening of the latter. As a result, the pair EUR/USD returned to the level of 1.1800 what indicates a resumption of the downtrend and the possibility of a decline in the euro. The minimum of the day is 1.1780, the maximum is 1.1860.

British pound throughout the day significantly strengthened across the spectrum of the market. This was caused mainly based on the statement of the EU president about readiness for the second round of negotiations on Brexit, which were received especially optimistically by pound investors after recent announcements that negotiations on Brexit had reached a deadlock. The minimum of the day is 1.3080, the maximum is 1.3200.

Hanzenko Anton