State of the market: the dollar continues waiting for two rate hikes this year

Trading on Friday opened with the resumption of the growth of the US currency against the basket of competitors. The reason for the resumption of optimism for the American dollar was the increased possibility of two interest rates hikes this year by the Fed. In turn, earlier, weak data on inflation in the US, slowed the growth of the dollar.

At the beginning of the day, the stock indices of the Asia-Pacific region are trading above zero after the optimistic closing of trading on Wall Street. Support for the shares of this region also provided data on China’s trade balance and reduced tension around the trade confrontation between the US and China.

The US dollar index accelerated growth with the opening of the day and is preparing to storm 95.00 level, which will open the way to 95.20 (the upper limit of the rising channel). Support is located at the levels: 94.80 and 94.60. The change in the dynamics of stock indexes to negative will also affect the American dollar.

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Hanzenko Anton

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