Analysis of the past day - Ester Holdings

Analysis of the past day

On Thursday, July 26, the foreign exchange market demonstrated a restrained move towards strengthening the US currency across market spectrum. The weak US data  didn’t limit the growth of the US dollar in any way. At the same time, the main strengthening of the dollar was caused by the resumption of risks around the trade confrontation, which resumed on the restrained Draghi’s comments indicating that concerns remain  about the US trade confrontation.

Stock exchanges throughout the day were traded in different directions, which was caused by a lack of clear sentiment (Nikkei 225 -0.12, DAX +1.90, FTSE 100 +0.10, Dow 30 + 0.60).

The US dollar index for the day fully played the decline yesterday at the meeting of US President D. Trump and European Commission President Juncker, based on the results, which the risks of trade confrontation between the US and the EU declined. The return of the US dollar index to the level of 94.60 indicates a slowdown in the downward dynamics, but also points to market ambiguity.

The US dollar index chart. The current price is 94.60 (10-year government bonds yield is a blue line)

Hanzenko Anton

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