State of the market: the American dollar is limited to correction
At the beginning of trading on Thursday, the US dollar index shows a very low-key dynamics after a correction on the break from the level of 95.40. Corrective movement on Wednesday on the dollar index was caused by technical factors and weak statistics on construction in the US. At the same time, the dynamics of the dollar was not affected by the optimistic comments of US Federal Reserve Chairman Powell.
At the beginning of the day most of the major currency pairs are traded at the opening day level. The exception was the Australian dollar, which received support from employment growth in Australia. But he, like most commodity currencies, was under pressure against the backdrop of the negative dynamics of raw materials and stock indices in the Asia-Pacific region.
The US dollar index is limited to the lateral dynamics and the trading range from 95.00 to 95.20, at the beginning of the day. In this case, the return of the index below 95.00 will call into question the further growth of the US currency.
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Hanzenko Anton
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