State of the Market: the market is preparing for tomorrow’s report on employment in the US

With the positive opening of the American stock exchanges, the pressure on the American currency increased, which was caused by the growth of raw material prices and the continued optimism regarding the growth of the world economy. Additional pressure on the American was provided by ambiguous data on employment in the US, which came out before Friday’s report on employment. As a result, the pressure on the US currency has been increased markedly.

Despite the existing negative dynamics, the further decline of the American will be limited to a significant oversold and expectations of data on employment in the US. Therefore, significant levels of support for the US dollar index remain: 91.500 and 91.400.

Graph of the US dollar index. The current price is 91,550.

Hanzenko Anton