State of the market
World stock markets remain under pressure amid continued pessimism and growing demand for the US currency. Strengthening the dollar is due to the continued optimism about the monetary policy of the Fed. Also, the growth of the US dollar may be limited by forthcoming employment data in the US, which will force investors to adjust the dollar position before this report.
The US dollar index also confirms the possibility of a technical correction from the resistance level of 95.00. At the same time, the update of last week’s high indicates the resumption of the uptrend on the American dollar.
The US dollar index chart. The current price is 94.90 (10-year government bonds yield is a blue line)
Read also: “Trade in currency baskets”
Dani Levitan
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