State of the market. The US dollar tries to catch the advantage

A few hours before the start of the American trading session, the US dollar strengthened its positions against the basket of currencies amid partial fixation of profits by investors on short positions of the US currency, after weakening during the Asian and the beginning of the European sessions. Support for the US currency was provided by the resumption of growth in the yield of the US government bonds, which on average grew by 0.22%. In turn, the further growth of the American is restrained on the eve of the opening of US stock markets, the growth of which could put pressure on the American currency. At the pre-market, the major US stock indices promise to open with growth (Dow + 0.55%, Nasdaq + 0.37%, S & P 500 + 0.32%).

On the D1 chart, the US dollar index still retains the possibility of further forming and working out of the “Double bottom“, but the instrument needs to gain a foothold above 90.50 in the coming days.

Fig. Graph of the US dollar index. The current price of DXY is 89.69.

Alexander Sivtsov