State of the market condition: the dollar remains under pressure
At the start of the Wednesday the US dollar index remains near the 95.20 support, which was achieved after a rapid decline in the US session. The reason for the dollar’s sale was the information that Trump’s former personal lawyer and head of Trump’s election campaign pleaded guilty to federal charges. This provoked a wave of US dollar sales on the growth of political risks in the US.
At the same time the US dollar is caught by the expectation of publication of the FOMC meeting minutes that will be released today by the end of the day and will clarify the situation with the recent criticism of Trump FRS and its policy of raising rates. Also, the market continues waiting for the results of negotiations on the US and China trade relations.
The US dollar index against the basket of major competitors broke through the support of 95.50 and is trading near 95.20 against political risks . At the same time, it remains under pressure of risks, but is limited to oversold, which can cause correction. The resistance has shifted to the marks: 95.50 and 95.80, support remains at levels 95.20 and 95.00.
Read also: “Stock indices: the US market”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
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