State of the market: the dollar remains optimistic

At the start of the day, the US dollar is trading lower, remaining under pressure of correction and overbought. The driver for the restrained dynamics of the dollar remains the uncertainty in trade confrontation between the US and China, which is the main risk factor for the market.

Also at the beginning of the day, the results of the RBA meeting were published, as a result of which the Central Bank left the monetary policy unchanged. The accompanying speech did not differ much from the previous one. At the same time, the Australian dollar managed to strengthen significantly due to the weakness of the US dollar, but general dynamics of the AUD/USD pair remains downward.

AUD/USD H4 chart. Current price – 0.7420

 

The dollar index against the basket of major currencies is trading in the correction phase and has not been able to overcome the 95.40-50 mark. Limitations of support levels: 95.20 and 95.00.

Read also: “Fundamental Analysis: The Impact of GDP Indicators on World Currencies”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Emerging markets and their prospects: Turkish lira (TRY)
2. Stock indices: the UK market
3. In Focus: Analysis of transactions for a EUR/USD pair during week

Current Investment ideas:

1. Preparing to have profits on an optimistic report of Alcoa Inc.!
2. On weak reporting of Boeing shares we can get a strong income!