State of the market: the American remains in the flat

The US dollar is traded in a sideways trend against the basket of major competitors, limited to psychology 91.00. Restraint manner of the dollar is caused by a low probability of further growth in the yield of 10-year-old US state bonds, which reached the level of 3%. Earlier growth of profitability of the US state bonds acted as the main driver for the growth of the US currency.

Against the backdrop of a lull in the foreign exchange market, low activity is also traced on the commodity market. Stock markets in the Asia-Pacific region are traded well below zero after the negative closing of trading on Wall Street.

In conditions of the persistence of negative sentiment and the lack of significant news, the US dollar index is likely to remain in the sideways trend, limiting trading ranges from 90.70-60 to 91.10-20. In this case, the outcome from this trading range, probably, will indicate the movement to one of the sides.

Hanzenko Anton