State of the market. US dollar slows growth

The US dollar slowed growth against the basket of currencies with the start of the US stock markets. This dynamics of the US currency is associated with mixed dynamics of the main drivers. Profitability of the US government bonds continues to decline, while the yield of 30-year and 10-year bonds on average fell by -0.30%. In turn, the major US stock indices began trading in the green zone: Dow + 0.53%, S & P 500 + 0.25%, Nasdaq + 0.43%. It is also worth noting that tomorrow the market will expect the results of the March meeting of the Fed, during which the raise of the discount rate is expected, which will support the US currency.

The US dollar index recovered almost all of Monday’s losses, while almost closely approaching yesterday’s high at 89.94.

Fig. Graph of the US dollar index. The current price of DXY is 89.81.

Alexander Sivtsov