Analysis of the past day
On Friday, as a result of the day, the US dollar strengthened significantly against a basket of major competitors. This was due to the publication of the retail sales data in the United States, which showed a revision of the values for the previous month in the direction of increases. This led to a decrease in the likelihood of rates cut at upcoming meetings of the US Federal Reserve.
Stock indices during the day were traded under pressure against the background of risk preservation and investors’ flight from risks. As a result, gold received a significant support. (Nikkei 225 + 0.39; DAX -0.60; FTSE 100 -0.20; Dow 30 -0.20)
The US dollar index closes the week with a significant increase and updating of the weekly high, which was facilitated by the possibility of lowering US rates. It is also limited by significant overbought and resistance levels of 97.50 and 97.60. At the opening of the new working week, movement against Friday is not excluded. Support levels: 97.20 and 97.00.
Fig. The US dollar index chart. The current price is 97.40 (10-year US government bonds yield is the blue line)
Hanzenko Anton