State of the market: the American is under pressure of commodity currencies

On Thursday in the conditions of a thin market, the pressure on the US currency from the side of commodity currencies increased, which continued to receive support from the growth of prices for raw materials. As a result, the US dollar was under pressure across the entire spectrum of the market, which was also caused by a decrease in the US state bonds.

The assets of the safe haven also demonstrate noticeable growth at the beginning of the day, which was caused by the inertial sale of the American and a decrease in the US state bonds. Also, the strengthening of the yen was caused by the publication of positive data on production and sales in Japan.

As a result, the market shows a clear dynamics against the US currency and the continued negative sentiment, which is reflected in the strengthening of safe haven assets. But at the same time, the dynamics of raw materials and stock indices is positive.

The US dollar index against its main competitors markedly accelerated the decline in early Thursday, as a result of which the support of 92.800 was broken, which also confirmed the safety of the three-week downtrend. The nearest support is located at the levels: 92.600 and 92.400, the minimum of November.

Graph of the US dollar index. The current price is 92.650.

Hanzenko Anton