State of the market: the dollar remains optimistic before the Fed meeting

On Tuesday at the start of the day, the US dollar index shows growth, keeping optimism on the upside of the Fed’s rate hikes. Strengthening of the dollar is traced from the end of Monday trading on the correction of positions before the publication of the Fed meeting minutes. The main growth of the dollar index it is seen on commodity currencies and safe harbor currencies. European currencies are  under pressure also, but are limited to Monday lows.

Technically, the US dollar index is limited by resistance levels: 94.30 and 94.50, thereby remaining under the pressure of a downtrend, but receiving support from the growth of optimism in the dollar. This in the end can serve as an excuse for slowing down the American decline.

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Hanzenko Anton

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

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