The US dollar maintains a strong position. The US GDP data

The US dollar maintains a strong position against the basket of currencies after the publication of preliminary data on the US GDP for the 4th quarter.

• According to published data, GDP growth slowed to 2.5% in Q4 against the previous level of 2.6%.
• In turn, the GDP deflator was 2.3%, exceeding the forecast at the level of 2.1%.

The main support for the US currency is provided by yesterday’s comments of the head of the Federal Reserve Powell. See “Analysis of the American Trading Session.“

The US dollar index remains positive before the beginning of the US stock session. The D1 chart shows the beginning of the double bottom development, against which the US dollar index may rise to the levels of 91.50, 92.00.

Fig. Graph of the US dollar index. The current price of DXY is 90.53.

Alexander Sivtsov