Fundamental analytics

Wall-Street start returned some demand for the US dollar as USD index recovered to 95.14

On Tuesday, US equity markets start of trading occurred in the green and it looks like we are going to see another positive day for the US stock indexes. Europe is also traded in the green, reflecting the positive market close in Asia and the strong Wall-Street start. The market positive is observed in all sectors, while the European energy sector shows outstripping growth amid the recovery in oil prices. At the time of the start of Wall-Street, Brent oil quotes are traded at around $ 74.70 approaching the resistance at around $ 75 per barrel.

In the FOREX currency market, a local weakening of the US currency marked the first part of Tuesday’s trading session. Yesterday USD dollar reached the upper limit of the broad side range-zone 95.35 on the dollar index. We had no doubt that a kind of correction would follow, as it was at these levels of the dollar index when US president expressed discontent on the Fed's transition to a more hawkish monetary policy two weeks ago, which simply meant a verbal intervention aimed at weakening the dollar. Now the only question is how much the US dollar will adjust.

Today, the Australian dollar was the leader of growth, among the major currencies of the FX market. Aud / Usd tried to form a foothold above 0.7400 to denote the new August high (0.7435). However, the market failed to gain a foothold on these levels as the pressure resumed with the arrival of American traders. Thus, the previous AUD/USD trading strategy inside the channel remains in force. EUR / USD is trying to develop the success that has emerged today at early European session. However, the upward movement is minimal; the pair did not even reach the first significant resistance level in the 1.1610 area. Thus, the current local upward impulse for the EUR / USD market is still considered only a local pullback, rather than an interception of initiative by the bulls.