Analysis of the past day
On Monday, June 11, the US dollar led a positive trend against the basket of major competitors, despite the persistence of trade risks and the positive dynamics of world stock indices. The limiting factor for the American dollar and the market as a whole remains the uncertainty about US trade relations and the expectation of the results of the meeting of the Fed and the ECB, which will be held this week.
After the ambiguous closing of the G7 summit, the stock markets in the Asian region opened the week negatively, but optimism for the European session was restored, thereby restoring pressure on the American dollar (Nikkei 225 +0.48 DAX +0.40, FTSE 100 +0.70, Dow 30 +0 ,10).
In the conditions of market uncertainty at the start of the week, the US dollar index showed a multidirectional dynamics, thus departing from the minimum opening day, but could not leave the downward channel, the upper limit of which is located at the levels: 93.60 and 93.80. In conditions of consolidation of the American dollar below 93.40-30, we should expect the decrease resumption to support levels: 93.00-10 and 92.80.
US dollar index chart. The current price is 93.60 (the yield of 10-year government bonds is a blue line)
Hanzenko Anton