State of the Market: the American is under pressure of weak US data

After a mixed direction on the publication of the ECB protocol, the US dollar was under pressure from weak data on orders for durable goods, which fell sharply in March, thereby increasing pressure on the American. At the same time, the US dollar index remains clamped in a sideways trend, despite attempts to reduce it.

The American is limited to the psychological level of 91.00. In turn, a significant decline of the US state bonds to the 3% mark may lead to a weakening of the American. But at the same time stock indices will receive support on Wall Street, which will limit the decline in the dollar. Therefore, from the US dollar index, one should expect a restrained correction in flat with support levels: 91.00 and 90.80.

Graph of the US dollar index. The current price is 91.00 (the yield of 10-year government bonds is a blue line)

Hanzenko Anton