The main market’s drivers
After an ambiguous jobs report in the US, which showed the growth of new jobs, but a slowdown in wages, the market preferred to focus on positive data, supporting the American dollar. It should be noted that the growth of the US dollar is mainly traced against commodity and European currencies. At this time, safe haven assets continue to be quite restrained.
This trend is due to the persistence of risks, despite the rising cost of raw materials. The main risk factor continues to be the uncertainty in the US trade relations with China and closer trade partners of Europe and Mexico.
The US dollar index maintains an upward trend, resuming growth after correction attempts and rebound from the support level of 97.20. Significant resistance are the marks: 97.50 and 97.70.
The US dollar index chart. The current price is 97.40 (10-year government bonds yield is the blue line)
Read also: “Market activity depending on the days of the week”
Andre Green
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Stock indices and their impact on the Forex market
- World central banks are preparing for lower rates
- Financial quarter correction
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