Analysis of the past week

According to the results of the first full week of November, the US dollar index closes trading with growth. At the same time, throughout the week, the mood regarding the American currency changed dramatically several times. The first half of the week passed in the mood of dollar sales on negative expectations regarding the midterm elections in the United States, where Democrats received a majority in the House of Representatives. And the US currency has updated a month lows on the growth of political risks in the United States.

The recovery factor for the US dollar after the decline was the US Federal Reserve protocol, which met market expectations and indicated the possibility of an early increase in US rates. Against this background, the US dollar index fully won back all previously lost positions and returned to the November opening levels.

The US dollar index closes the week in black indicating the possibility of resuming the uptrend on the American dollar, which, in turn, is limited to psychology 97.00. A break of psychology will indicate the possibility of updating new annual highs.

The US dollar index chart H4. Current price – 96.70 (10-year government bond yield – blue line)

Hanzenko Anton