The main market’s drivers

Despite the very optimistic data on the NY Empire State (April) US manufacturing activity index, the US currency remains under the pressure against a basket of major competitors.

• NY Empire State (April) US Manufacturing Index, fact 10.10, forecast 6.70.

The index of manufacturing activity of the NY Empire State (April) of the United States rose to the maximum of the current year, indicating the recovery of the manufacturing sector after the collapse at the end of 2018. This indicator remains limited, despite the apparent resumption of growth.

Fig. 1. NY Empire State US manufacturing index  (Apr) chart

The US dollar index remains under the pressure amid growing optimism and selling off safe assets, limited to oversold against the basket of competitors and limited to support levels of 96.80-70.

Fig. 2. The US dollar index chart. The current price is 96.80 (10-year government bonds yield is the blue line)

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Andre Green

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Oil market: results and forecasts
2. World reserve currencies and their popularity
3. Stock indices and their impact on the Forex market

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