State of the market: the dollar is adjusted after yesterday's growth - Ester Holdings

State of the market: the dollar is adjusted after yesterday’s growth

With the opening of Friday trading, an unidirectional dynamics on the decline of the US currency  can be traced on the market caused by a correction after yesterday’s growth. In the context of a restrained weakening of the American dollar, safe assets remain an exception, which, despite the risks, continue to be restrained.

From the start of the day, the US dollar has been weakened against most major competitors. The index of the US dollar, against the basket of competitors, has remained under the pressure from the beginning of the day, forming a reversal from the resistance of 97.50. Despite the reduced activity in the market due to the closure of European trading floors, a slowdown in liquidity is expected from the American  dollar correctional dynamics. In conditions of low liquidity, one can expect multidirectional movements in the market. The expected trading range for Friday is from 97.50 to 97.20.


Read also: “Geopolitical risks as fundamental factors of the market”

Hanzenko Anton


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