The main drivers of the market: stock indices and oil

The American trading session opened slightly below zero, thereby slowing down the decline in the stock markets, which remained under pressure of increasing pessimism. The decline in the pessimistic sentiment on the market reduced demand for the US currency, which traded with strengthening throughout the day, as a result of which it is possible to talk about the American dollar transition to the correction phase and expect a decrease in activity before the weekend.

Oil, in turn, continues to trade in different directions, expecting data on drilling activity in the US. The main brands of oil BRENT and WTI have increased the price gap per barrel, which against the background of increased drilling activity can only increase.

The US dollar index renewed its high at 93.80, breaking off the upper boundary of the downward channel, confirming the safety of the downtrend as a result, but because of the declining activity it is likely to remain in the range from 93.60-40 to 93.80-90.

US dollar index Graph. The current price is 93.60 (the yield of 10-year government bonds is a blue line)

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Hanzenko Anton