The main market's drivers - Ester Holdings

The main market’s drivers

The US dollar continues to strengthen its positions due to the European currencies. So, from the start of the day, the US currency has significantly strengthened against the euro on the growth of risks around the budget of Italy. After the euro has renewed a minimum of two weeks against the dollar, the American dollar’s growth has switched to the pound. At the same time, other world currencies remain very restrained against the dollar. The reason for the sale of European currencies was also the collapse of the European stock indices.

The exception is the Canadian dollar, that was supported by Canada’s GDP growth data, being oversold in USD/CAD pair and limited support level of 1.2950.

The US dollar index was in a significant overbought against the basket of major competitors, coming very close to the highs of two weeks and limited to resistance levels of 95.40-50 and 95.70.

The US dollar index chart. The current price is 95.30 (10-year government bonds  yieldi s a blue line)

Read also “The most common mistakes made by trader. Know them and do not make “

Andre Green

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

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