State of the market: the dollar remains optimistic
On the Friday trading, the US currency continued to rise against the basket of major competitors, despite overbought and waiting for employment data in the US, which will come out today. Driver to the growth of the US dollar is the resumption of tension around the trade confrontation between the US and China on the risks of introducing new duties, which, in turn, caused a decline in the currencies of the Asia-Pacific region.
Also support for the dollar continues to give the decline of the British pound after comments by the head of the Bank of England, Carney, who voiced concerns about the effects of Brexit and high inflation rates. As a result, the British pound remains under pressure, despite the increase in rates by the Bank of England.
Against the backdrop of the overall growth of the dollar, the US dollar index managed to update the two-week high, and thereby overcome psychology at 95.00. Now the growth of the American dollar is limited to the mark of 95.20, the penetration of which will open the way to 95.40-50.
Read also: “Tradinge Against the Trend Using Examples”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Emerging markets and their prospects: Turkish lira (TRY)
- Stock indices: the UK market
- In Focus: Analysis of transactions for a EUR/USD pair during week