Analysis of the past week
As a result of the week, the US dollar closes trading with a decline against the basket of its main competitors, because of a collapse on Thursday on the growth of optimism in the market and a decrease in tension regarding the USA and China trade confrontation. Friday’s trades could also increase the dollar’s loss if it were not very positive US employment statistics, which eventually slowed down the sale of the dollar and caused a correction. At the end of the month, the US dollar index closes with a significant increase and update of the annual high at the level of 97.20.
Separately, it is worth noting the reduction of tension in the United States and China trade confrontation, which in the end can serve as a driver for the change in general trends in the market. This news is also largely associated with the collapse of the American dollar on Thursday. Under current conditions, the dollar index is clamped in the lateral range from 96.00-95.70 to 96.50-96.80.
The US dollar index H4 chart. The current price is 96.30 (10-year government bonds yield is the blue line)
Hanzenko Anton