State of the market. The US dollar tries to return to the game

The US dollar slightly strengthened its position against the basket of currencies during Tuesday’s trading amid a partial profit-taking by investors in short positions against the US currency. Some of the constraining factors at the moment were weak data on production activity. The index of manufacturing activity Empire State from the Federal Reserve Bank of New York in January was 17.70, compared to the December value of 19.6.

Also, the market is waiting for the start of the US stock markets. At premarket, the main stock indices indicate a positive start with an average growth of quotations at + 0.70%. Further growth of the quotations will support the US currency.

The US dollar index in today’s trading has receded from its maximum value at the level of 90.05, but still remains under pressure amid a weak demand for the US currency.

Fig. Graph of the US dollar index. The current price of DXY is 90.44.

Alexander Sivtsov