State of the market : dollar under the pressure at the start of the week

With the opening of trading on Monday, the US dollar is trading against a basket of major competitors. The main decline of the American dollar can be traced against commodity currencies and gold, indicating the preservation of the previous moods. The weakness American dollar of is due to the continued downward dynamics of the dollar and the risks of slowing the US economy, not to mention the speculation against the dollar. The growth of optimism in the Asia-Pacific stock markets also contributes to the strengthening of commodity currencies.

The US dollar index at the opening of the week is trading downward, limited to the support of 96.50. Breaking through this support will open the way to support levels of 96.20-30, indicating that the existing downward dollar dynamics, which is limited by the resistance of 96.70-60, remains.

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Hanzenko Anton

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