State of the market: the American dollar is under pressure from market optimism

From the beginning of the new month the US dollar was under pressure from the growth of stock indices and the associated optimism. As a result, the US dollar index was under pressure at the start of trading on Thursday. The reason for this movement was the growth of optimism in the stock markets, which was strengthened by positive data on business activity in the manufacturing sector of China, which heightened optimism in the Asia-Pacific session and caused the strengthening of risky assets.

Since the beginning of the day, the US dollar index has been trading downward on the general increase in optimism, returning to psychology 97.00. A significant support for the dollar is the zone 96.80-70 and 96.50, the test of it will indicate a slowdown in the uptrend for the dollar.

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Hanzenko Anton

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