State of the market: the dollar is storming weekly highs

At Friday trades the US dollar remains to be traded near the weekly highs, limited to the resistance level of 96.00. Thursday’s trading closed with the rapid growth of the American dollar against a basket of competitors on the positive statistics on the USA and the preservation of risks in Europe. In this case, the downward dynamics of stock indices had little impact on the growth of the dollar.

At the start of the day dynamics is a very restrained  in the market, aimed at a correction against yesterday’s growth of the US dollar. On the stock markets are negative sentiment, despite the attempts of growth of Chinese stock indices on the publication of ambiguous statistics on China. The US dollar index is limited by the resistance level of 96.00 and the correction phase. American dollar’s support is at the levels: 95.80-70 and 95.50.

Read also: “Trad in currency baskets”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. The US economy continues its growth, confirming the rates hike policy.
2. Prospects for recovery of emerging markets.
3. Trump presidency results (1/2).

Current Investment ideas:

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