U.S. data
- ISM non-manufacturing employment index (December), fact 56.3, previous value 58.4.
- ISM non-manufacturing PMI (December), fact 57.6, forecast 59.6.
The US currency accelerated the decline against a basket of competitors on weak statistics on business activity in the non-manufacturing sector of the United States, which was reinforced by the retention of restrained positive sentiment in the market. The decline in business activity to annual lows increased the pressure on the American dollar.
Further decline of the US currency against the basket of competitors is limited by oversold and support levels: 95.70 and 95.50, from which it is possible to rebound and form a correction to resistance levels: 96.00-95.90 and 96.20.
The US dollar index chart. The current price is 95.80 (10-year government bonds yield is the blue line)
Read also: “Fundamental Analysis: The Impact of GDP Indicators on World Currencies”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Geopolitical risks for the beginning of 2019!
- Top 5 books on trading. Read and progress!
- Happy New Year! Summing up the past year.
Current Investment ideas: