Analysis of the past day

On Wednesday, July 11, the US dollar against the basket of major competitors showed a significant increase in the growth of concerns related to the possibility of introducing new duties on Chinese goods. This allowed  American dollar to return to the weekly highs, while consolidating at the highs the American dollar failed, thereby confirming the propensity to maintain a downtrend.

Stock indices remained under pressure throughout the day due to the expectation of new tariffs from the US and the risks they could cause (Nikkei 225 -1.28, DAX -1.40, FTSE 100 -1.10, Dow 30 -0, 60). This also had a negative impact on the commodity market and currencies of the Pacific region.

The US dollar index remains limited resistance 94.20-40, the repulse from which will indicate the resumption of the downward trend. The second significant resistance is the level of 94.60.

Hanzenko Anton