U.S. business data
- Markit Composite Business Activity Index (PMI) (Jan), fact 54.4, forecast 54.5.
- Business PMI (Services PMI) (Jan), fact 54.2, forecast 54.2.
- ISM non-manufacturing employment index (January), fact 57.8, previous value 56.6.
- ISM Non-manufacturing business index (PMI) (January), fact 56.7, forecast 57.2.
Data on business activity in the services sector and the non-manufacturing sector of the United States indicated that the downward trend in this sector continues, which remains in the decline phase after the update of the highs in 2018.
Fig. 1. Graph of business activity index in the non-manufacturing sector (PMI) from ISM USA
The US dollar index did not actually respond to weak statistics on the US, continuing to strengthen its position on the positive opening of trading on Wall Street and the decline in the US state bonds profitability. It is worth noting the skewness of the American dollar and the test of the upper boundary of the trading channel, which in the end may cause a downward correction of the dollar. Resistance levels are: 96.20-10, support: 96.00 and 95.80.
Fig. 2. The US dollar index chart. The current price is 96.00 (10-year government bonds yield is the blue line)
Read also: “Prospects for the dollar by the end of September beginning of October 2018”
Hanzenko Anton
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