State of the market: the US dollar is under pressure

Monday trades opened with a decrease of the US currency against most major competitors. The main driver of the US dollar sale remains weak  employment data in the United States and the preservation of tension in trade relations between the United States and China, which have acquired a new turn after the arrest of a member of the board of Huawei. Against the background of these risks, the stock markets in the Asia-Pacific region and the US dollar returned to decline.

The US dollar index opened the day with a decline, updated the last weeks lows at around 96.30-40, which broke through the significant support at 96.50, which indicates that the downward trend was preserved and the possibility of testing the support at 96.20 and 96.00, resistance was at the levels: 96.50-60 and 96.80.

Read also: “The state of the economy of New Zealand and the prospects for raising the interest rate of the RBNZ”

Hanzenko Anton

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