Analysis of the past day

On Tuesday, July 17, the US dollar index at the European session moved to a correction on the expectation of optimistic comments by the US Federal Reserve Chairman. At the same time, the tone itself wasn’t so optimistic. Also, the dollar was supported by a technical correction after the decline, which was traced from Friday.

Stock markets throughout the day showed multidirectional dynamics following the American dollar (Nikkei 225 +0.49, DAX + 0.60, FTSE 100 + 0.50, Dow 30 -0.10), thereby confirming the status of the market driver, and pointing to formation of correction after reduction.

The US dollar index on the day’s results returned to the opening levels of the week, but is limited to the level of 94.80 and overbought, which in the end can cause the formation of a flat near this level.

The US dollar index chart. The current price is 94.50 (10-year government bonds yield is a blue line)

Hanzenko Anton