Trades in the Asian session opens with a positive attitude

Trades on Monday opened very positively, keeping Friday’s optimism from the growth of quotations on Wall Street. The main reason for maintaining optimism in the market and strengthening the US currency are expectations regarding the tax bill in the US. Thus, the Republicans continue to actively promote the tax bill in the Senate, which remains optimistic and points to an early resolution of this issue.

According to representatives of the Republicans, the issue of ratification of the tax reform will be resolved by the end of this week, which in turn will push the US currency to strengthening. But on the other hand, the upward dynamics of the US currency is limited by market hesitancy and uncertainty in resolving the tax issue.

The US dollar index is limited to support levels: 93.600-500, resistance: 93.900 and 94.000.

Graph of the US dollar index. The current price is 93.800.

Hanzenko Anton