Analysis of the past week

The past week was very informative and intense with speeches. It was speeches and all kinds of statements that had a major impact on the market. So, according to the results of the week it is worth highlighting the three main statements made this week.

The applicants for the post of British Prime Minister all as one declare their intentions to go out with the EU at all costs, pointing to the possibility of a tough Brexit, which puts pressure on the pound.

Regarding the ECB, there were rumors that the government of the Central Bank of the Eurozone is ready to revise the forecasts for inflation in the EU, increasing the pressure on the euro.

The representative of the US Fed Williams expressed his opinion about the need of the interest rates cut in the United States, collapsed the value of the dollar, despite the high degree of expectations of interest rates in the United States.

Against the background of such multidirectional statements, the dynamics of the market also turned out to be ambiguous. Thus, weekly volatility in the US dollar index was about 0.77%. In this week, the American dollar closes above the opening level, but limited to the side channel. The dynamics of the US dollar against the basket of competitors is more in line with the side triangle, limited to resistance levels: 97.30-20 and 97.50 and support: 97.00 and 96.80-70.

Fig. The US dollar index H4 chart. The current price is 97.10 (10-year government bonds yield is the blue line)

Hanzenko Anton