The main market’s drivers
The US currency continues to trade with a strengthening on the retention of the restrained negative dynamics of stock indices and very positive statistics on the US labor market. The American dollar’s optimism was strengthened by data on the number of initial jobless claims, which unexpectedly declined by the November values of 2018, remaining near historic lows.
Fig. 1. Graph of the initial jobless claims in the USA
The US dollar index on the growth of pessimism and positive data for the USA continues to be traded in the correction phase against yesterday’s decline, limited to resistance levels: 95.50 and 95.70. A decline in optimism about the American dollar can be expected closer to the speech of US Federal Reserve Chairman Powell, who, following the rest of the Fed, is expected to make statements about the slowdown of the US rates hike, which could resume the rapid sale of the American dollar.
The US dollar index chart. The current price is 95.30 (10-year government bonds yield is the blue line)
Andre Green
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