Analysis of the American session

Thursday’s trading closed with restrained lateral movement of the US dollar index against a basket of major competitors. The growth of pessimistic sentiment in the market provided moderate support to the American dollar, due to concerns over the US – China trade talks. But the evaluation of the US Federal Reserve meeting results and the likelihood of stimulating the US economy in the future continued to put pressure on the dollar.

As a result, the American dollar closed the day near the level of 97.30, maintaining a downward dynamics. In the future, this opens the way to the support level of 97.00-10. It is also worth to note the upcoming US employment data, which may be a deterrent.

Fig. US dollar index chart. Current price – 97.20 (10-year US government bonds yield – blue line)

Read also: “Prospects for the USD/JPY  for early July”

Andre Green

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