State of the market: the American dollar is under pressure again

In the Asian stock market, there has been a rise in optimism after the trading on Wall Street closed slightly below zero from the start of the Wednesday. The reason for the restoration of positive sentiment was the general decline in the US currency against most of its main competitors. The reason for the decline of the US dollar, in addition to the correction, was Trump’s criticism towards higher interest rates of the US Federal Reserve System, which ultimately became the driver for yesterday’s selling of the US dollar across the market.

Yesterday’s decline in the US dollar index broke the upward trend and called into question keeping the upward trend for the dollar. The return of the American dollar under the level of 95.70 opens the way to the marks: 95.50 and 95.30, which ultimately indicates the formation of a downward corrective trend. To maintain the upward dynamics of the dollar, buyers need to return the US dollar index above the 95.70-80 mark, which is unlikely on the growth of market optimism.

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Hanzenko Anton

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