State of the market: the US dollar remains near the highs

At the beginning of the day, the US dollar index remains near the highs of the week on expectations that the US Federal Reserve will raise interest rates twice this year. At what the first of the two expected increases is likely to take place in September. With the second not so unambiguously and the forecasts were divided, pointing to December and January. The expectation of higher rates remains a significant topic for speculation.

Stock indices of the Asian-Pacific region opened above zero, on the recovery of the market from pessimistic sentiments, which were caused by the aggravation of trade relations between the US and China. With the strengthening of stock indices, the US dollar may again be under pressure and return to a downward trend.

Significant resistance for the US dollar index are the levels: 94.80 and 95.00, support: 94.60 and 94.40.

Read also: “Elliott Waves: Wave Formations”

Hanzenko Anton

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