State of the market: the American dollar resumes its growth
After restrained trading on Monday, with the opening of the Asian session Tuesday, the dollar resumed growth against the basket of major competitors. The reason for strengthening the American dollar continues to be the risks of the trade war and the flight of investors from risks.
At the start of the day, the Australian dollar also received support, which was caused by the preservation of the interest rate at the level of 1.50%. The text of the protocol was restrained, but contained notes of optimism about inflation in Australia. Restraint of the RBA is due to trade risks caused by the US trade war.
The US dollar index has been trading since the beginning of the day with the strengthening, after a low-key dynamics at the low-liquid US session, which was caused by a day off in the US and Canada. Strengthening the US dollar index above 95.00 and breaking through the 95.30 level indicates a resumption of the general upward trend and opens the way to resistance levels: 95.50 and 95.70.
Read also: “Black Swan on FOREX – Stay on the Float”.
Hanzenko Anton
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