Analysis of the past week

The first week of December was very rich in data. Thus, during the week, the main influence on the market came from fundamental factors, namely, the tension in the trade confrontation between the USA and China, which was in doubt after the succession of the statement and arrest of a board member of a large Chinese company. Also during the week came out very weak employment data in the United States, which heightened doubts about the future policy of tightening rates in the United States.

At the same time, OPEC negotiated during the week, according to the results of which they reduced oil production by more than 1 million barrels per day. The UK remained at the mercy of risks around Brexit and new political risks.

The US dollar index closes trades in the side channel with the minimum at 96.40 updated, which indicates a significant slowdown in the general uptrend of the dollar and an increase in the possibility of a reversal, which is limited to support levels: 96.60-50 and 96.30-20.

The US dollar index H4 chart. Current price – 97.70 (10-year government bond yield – blue line)

Hanzenko Anton