State of the market: the dollar is growing on the decline of the euro and weak statistics on Asia

At the beginning of the Monday, the US dollar received support for rising risks in Europe and weak statistics in Asia. The data about the crisis of the German coalition was aggravated because of the adopted migration amendments put pressure on the euro. German Interior Minister Horst Seehofer said he was going to resign due to migration policy. Thus, this statement shook the position of the ruling coalition in Germany and Chancellor Merkel.

Additional support for the American dollar at the beginning of the day was provided by weak data on business activity in China, which, in turn, set a negative tone on the stock markets of the Asia-Pacific region and intensified pessimistic sentiment in the market.

The US dollar index at the beginning of the week has appreciably strengthened on the growth of risks in Europe and Asia, which helped to get out of the support level at 94.40-50. The main resistance for the American dollar remains levels: 94.80 and 95.00.

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Hanzenko Anton