The US dollar managed to regain some of its positions against risky assets. The complications of trade relations with the European Union, after the introduction of trade duties on steel and aluminum by the US, made investors take a wait-and-see attitude.
Weak data that came out yesterday afternoon were not able to exert pressure on the US dollar.
According to the report of the US Department of Commerce, fell sharply by 0.8%, to $ 494.4 billion. Economists predicted that orders in April will fall only by 0.5%.
More importantly, the orders for durable goods and orders for transport equipment made the leaders in falling orders, which is not a very good sign for the economy., The production orders in April this year were able to increased by 0.4% compared to the previous month, excluding the transportation equipment.
The business condition index in New York declined in May. As indicated in the report of the Institute of Supply Management ISM in New York, the current business condition index in May fell to 56.4 points from 64.3 points in April. However, it is worth recalling.
The employment index, adjusted for seasonal fluctuations, fell to 50.2 in May from 58.3 in April, and the current income index fell to 43.8. The income expectations index fell to 71.7.
Data from the Conference Board also failed to please traders, as the May index fell sharply after rising for five consecutive months.
According to the report, the index was 107.69 points against the April value of 108 points. In comparison with the same period of the previous year, the index grew by 3.9%.
As for the technical picture of the EUR / USD, the prospects of a further upward trend. Now, buyers, buyers, to, take, again, to, return to, the, to, the important level of, resistance, 1.1715-20, which they were unable to keep. Only under such a scenario, the upward trend in risky assets will resume, which will lead to the next weekly highs of 1.1750 and 1.1790. In the event of a breakthrough of support at 1.1650, the pressure on risky assets will grow even more and the trading instrument will collapse to the lows of 1.1615 and 1.1570.
* The presented market analysis is informative and does not constitute a guide to the transaction.
