State of the Market: the US dollar managed to retreat from the lows

The US currency appreciably adjusted against the main competitors during trades on Wednesday, which was caused by the publication of positive data on the US and the publication of the US Federal Reserve Protocol. The US Federal Reserve’s report was very positive, pointing to the possibility of a more tightened monetary policy in the future. As a result, the US dollar index managed to retreat from the three-month low, but the descending dynamics remains.

World stock indices are traded with a plus, remaining near local highs. The maintanance of optimism in the market is caused by the growth of quotations on Wall Street and the positive dynamics of raw materials. Thus, the main oil brands are traded near the highs since 2015.

Despite the fact that the US dollar index managed to retreat from the minimum, the general downtrend on the American persists. This may indicate a further decline in the American to support levels: 91.800 and 91.500.

Graph of the US dollar index. The current price is 91,900.

Hanzenko Anton