Analysis of the past week

The last week of May turned out to be very negative for the US currency due to a change in sentiment in the market. As a result, the US dollar index closes the week at the opening level with the update of the annual maximum.

The multidirectional movements of the US dollar was caused by a radical change in sentiment in the market. Namely, the reduction of political risks in the euro area and the resumption of the US trade confrontation, which caused a rapid growth of world stock indices and correction for the American after a two-week growth. Not very significant support for very strong employment data in the US. At the same time, employment growth is likely to recoup next week.

The dollar index for the week, despite a significant slowdown in the uptrend, updated at a maximum of 95.00 and remained above the support of 93.8, which in the end may indicate an expansion of the trading upward range.

Graph of the US dollar index H4. The current price is 94.20 (the yield of 10-year government bonds is a blue line)

Hanzenko Anton