Analysis of the American session

Monday’s trading closed with a moderate strengthening of the US dollar index against a basket of currencies. The reason for the strengthening of the American dollar was the growth of pessimistic sentiment due to the lack of details on the US – China trade talks, and a technical correction after the rapid decline in the dollar on Friday. The main growth of the dollar was traced against commodity currencies, which was associated with an increase in risks and a decrease in the cost of raw materials. Classic safe haven currencies also received a support amid rising risks.

The US dollar index was cautiously adjusted against Friday’s decline, updating the high at 98.50. But it could not break this resistance, which confirmed the downtrend. Support is located at the levels: 98.20-30 and 98.00.

Fig. US dollar index chart. Current price – 98.30 (yield on 10-year US government bonds – blue line)

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Andre Green

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