Analysis of the past day

On Wednesday, trading on the foreign exchange market took place in different directions. So, the main currency pairs showed a decline first, before the American on its correction after the decline, and after – growth, in anticipation of the US Federal Reserve rates cut. Toward the end of the day, demand for gold increased, due to increased risks and negative dynamics of stock indices.

Stock indices traded with restrained appreciation throughout the day. The growth of pessimism intensified at the opening of American trading. The reason for this was the preservation of tension in the Middle East and the expectation of the US Federal Reserve meeting. (Nikkei 225 -0.18; DAX +0.20; FTSE 100 -0.00; Dow 30 -0.20)

According to the results of the trading day, the US dollar index corrected against the decline on Tuesday, updating the high at 98.50. After it returned to decline on the expectation of the US rates cut and a correction in positions on the American dollar. This indicates a waiting position for market participants. Support levels: 98.20, 98.00 and 97.80, resistance: 98.50, 98.80-70 and 99.00.

Fig. US dollar index chart. Current price – 98.30 (10-year US government bonds yield – blue line)

Hanzenko Anton