The American retains the potential to strengthen

Despite the very weak statistics on sales of new housing in the US, the US currency retains the potential to strengthen. So, sales of new housing in the US in January unexpectedly fell by 7.8% to 593K, which indicates a slowdown in sales, but maintains a general upward trend.

The US currency, after a decline at the beginning of the day, changed the dynamics to the opposite, which was caused by the positive start of trading on Wall Street and correction of positions on the dollar before tomorrow’s speech by Powell. The US dollar, despite the decline in the profitability of the government bonds, resumed growth on correction and returned to the level of significant resistance: 90.00 and 90.30. This can eventually indicate an update to the monthly maximum.

Hanzenko Anton