State of the market: the dollar slowed growth on the expectation of the US data

Trading on Friday from the start of the day remains restrained by lateral dynamics and the expectation of data on US GDP, which will be published today before the opening of the US trading session. The decline in optimism about the American dollar began to be traced after the release of weak data on the US yesterday. This was the driver of the correction of positions for the American dollar on the expectation of release of data on GDP. As a result, the market remains low-key dynamics in most major currency pairs, which is limited to the trading range of Thursday.

At the beginning of the day, New Zealand’s trade balance and inflation data in Japan were published, which turned out to be very positive. This has increased the demand for the New Zealand dollar in terms of restraint of the US dollar.

From the start of the day, the US dollar index has remained under pressure from the correction after growth, keeping the lateral dynamics from 98.30 to 98.00. In the near future, this trading range will continue. The growth of activity should be expected closer to the US trading session.

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Hanzenko Anton

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

Topical articles of the trader’s blog:

1. Multifactorial analysis of the Forex market
2. Expectations from the USD/JPY for the end of April – early May
3. U.S. and E.U. Trade War

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