State of the market: the American dollar is strengthening while waiting for the US employment report

With the opening of trading on Friday, the uptrend in the American dollar on the market remains restrained. The main strengthening of the dollar can be traced against the euro, which accelerated the decline before the publication of preliminary inflation data in the eurozone.

In addition to significant data on business activity in the UK and eurozone inflation. The main event of the day and the week is waiting for the US employment report, which will be released before the opening of the US trading session. Under the conditions of waiting for this statistic, Friday trading will take place.

The US dollar index from the start of the day maintains an upward dynamic, receiving support from the growth of the US government bonds yield. Fixing the dollar index above 97.80 indicates an upward trend. Resistance is located at levels: 98.00 and 98.20.

Read also: “To increase or not to increase, the difficult choice of the US Federal Reserve”

Hanzenko Anton

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