Analysis of the past day - Ester Holdings

Analysis of the past day

On Tuesday, the US currency accelerated growth against a basket of major competitors. This time, the American dollar was supported by the euro decline, which was caused by data on the growth of the French budget deficit, which exceeds the eurozone’s 3% limit. Previously, this problem was faced by Italy, and this put a moderate pressure on the euro, but in the current circumstances, and if the French budget deficit is confirmed, the ECB will have to reconsider its attitude to fiscal policy.

The stock markets were trading lower than zero, getting support from the correction after the decline, and evidence that US-Chinese trade was slowly improving (Nikkei 225 -0.31; DAX + 2.30; FTSE 100 +1.80 ; Dow 30 + 1.00).

The dollar index for the day updated the last weeks high and aimed at the resistance 97.50-40. At the same time, further strengthening of the American dollar is limited by its overbought. Support is located on the marks: 97.20 and 97.00-96.90.

The US dollar index chart. The current price is 97.40 (10-year government bonds yield is the blue line)

Hanzenko Anton

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