Analysis of the past week

At the end of this week, when China and a number of Asian countries did not work on the celebration of the Chinese New Year, the market was under considerable pressure from pessimism. Thus, the main world stock indices remained under pressure throughout almost whole week, showing one of the rapid decline. Under current conditions, the news background had virtually no effect on the market, and if it did, it had only a short influence.

The US dollar index showed a significant growth during this week against a basket of competitors, gaining more than 1% and slowing down the downward trend for the American dollar, which was traced since mid-December last year. The restrained dynamics of the American dollar on Friday may indicate attempts of correction at the opening of the new trading week, but they will be limited to support: 96.20 and 96.00. Resistance levels continue to act: 96.70 and 97.00.

The US dollar index H4 chart. The current price is 96.50 (10-year government bonds yield is the blue line)

Hanzenko Anton

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