Analysis of the past day

On Thursday, multidirectional dynamics was traced in the foreign exchange market. The first half of the day was in the mood for further strengthening of the American currency, as a result of which most of the major currency pairs updated lows against the American dollar. On the publication of weak US data, the market switched to a correction caused by the weak US data, a significant overbought of the American dollar and anticipation of tomorrow’s US GDP data.

Stock exchanges throughout the day were traded mostly lower. The reason for this was the increased risk and restrained corporate reports (Nikkei 225 + 0.64; DAX-0.50; FTSE 100 -0.60; Dow 30 -0.90).

The US dollar index, following a change in sentiment in the market, also showed multidirectional dynamics, but it updated the high at 98.30. Significant support is located at the levels: 98.00 and 97.80. The formation of a reversal at the level of 98.30-20 may indicate a more significant correction in the context of the upcoming data on the US GDP.

Fig. The US dollar index chart. The current price is 98.10 (10-year government bonds  yield is the blue line)

Hanzenko Anton