The US dollar was under pressure - the dollar index basket (USDX) closed the trading day at around 84.95 at the beginning of the week. There was not any important macroeconomic statistics this day. Traders are again trying to implement the corrective movement within the US dollar after the last US Fed protocol where it was pointed out the US dollar revaluation negative effects.
Against this background the main dollar competitors were in demand during the day, but now it is still too early to talk about the 100% dollar correction. The last two weeks we noticed how bulls tried to disperse the quotes up several times and faced strong pressure from the bears’ part. It should also be noted the negative trend on the commodity market – the CRB index finished the trading day in the "red zone" that is a positive factor for the dollar and will provide little support to it.
We do not expect the important macroeconomic statistics. We should emphasize the real estate sales’ release in the US secondary market. The real estate market releases which we received at the end of last week point out to a demand recovery after the August recession and in this regard we can expect the data release at the forecasted medians level.