Analysis of the past week

The outgoing week was very full of news, which affected the dynamics of the market during the week. Against the backdrop of a very diverse economic calendar, there are two fundamental news: the results of the Fed meeting and the US employment report.

At the same time, it is worth noting that, because of the very optimistic comments of the Fed, the relatively weak employment report was perceived quite restrained, but also put pressure on the US dollar.

At the end of the week, the US dollar index is closed by growth, remaining overbought and under the pressure of a weak employment report in the US, which in the end may indicate the expected correction against weekly growth. On the other hand, the decline of the American dollar will be limited due to the expectation of higher rates in September. The main support levels are: 95.00 and 94.80-60, resistances 95.40-50.

The US dollar index chart H4. The current price is 95.00 (10-year government bonds yield is a blue line)

Hanzenko Anton