Analysis of the past day

On Friday, February 16, trading in the foreign exchange market went in different directions, which was caused by the correction of the American before a long weekend in the US. So, the US currency, after a decline at the beginning of the day, went into the correction phase after updating the three-year low at 88.20. In addition to the significant oversold of the US dollar, the correction was caused by a long weekend in the US due to the celebration of the Presidential Day. Because of this, many market participants preferred to shorten the short positions on the American.

World stock indices continued to restrainedly strengthen on the recovery of optimism and correction after the decline (Nikkei 225 +1.18, DAX +0.70, FTSE 100 + 0.80, Dow 30 +0.40). At the same time, the stock exchanges continue to receive support from the growth of positive sentiment and positive signals on the growth of the world economy.

In turn, the renewal of the US dollar index of multi-year lows confirmed the safety of the downward trend for the American. But, because of the upcoming weekend, the downtrend may slow down on the correction.

Graph of the US dollar index. The current price is 88.80.

Hanzenko Anton