State of the market: the American remains optimistic

At the beginning of the week, the US dollar traded near the highs of the last two weeks against the basket of major competitors. The growth of optimism about the American is caused by the reduction of geopolitical risks and the growth of the yield of the US bonds, which are traded near five-year highs.

In this case, it is worth remembering the significant overbought of the American and state US bonds, which in the end can cause a correction movement. The beginning of the week can be an excellent reason for this. At the same time, the US dollar index is limited to the April highs at the level of 90.50-60 and significant overbought. Yield of the state bonds, which is the main driver of the growth of the dollar, can be limited to psychology at 3,000.

Hanzenko Anton