The main market’s drivers

An ambiguous employment report in the United States after widespread fluctuations caused a decline in the US currency against a basket of competitors, thereby indicating the possibility of correcting the uptrend on the US dollar index. On the other hand, reducing unemployment is a significant incentive to tighten the monetary policy of the US Federal Reserve. The growth of the US state bonds yield will not allow a significant decrease in US currency.

US stocks traded above zero, indicating a decrease in general market pessimism, but may also  limit a decrease in the US dollar.

The US dollar index technically turned to a correction, that will be limited to support levels: 95.50 and 95.30, the probability of reboung from which remains significant.

The US dollar index chart. The current price is 95.60 (10-year government bonds yield is the blue line)

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Andre Green

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

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