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Analysis of the American session
Trading at the American session on Thursday closed with a collapse of the US dollar, which offset more than half the growth of the US dollar at the US Federal Reserve meeting results. The reason for such a rapid correction of the dollar against a basket of major competitors was the data on the intentions of the US President D. Trump to introduce new duties on Chinese goods. As a result, the risks of a slowdown in the global economy escalated sharply. After that, the stock markets, the US dollar and the US state bonds yield were under the pressure.
The US dollar index closed Thursday trading with a significant reduction in risk, returning to 98.50, indicating the correction phase. Separately, it is worth highlighting the upcoming publication of the US employment data, which will also have a limiting effect on the market. As a result, a movement in the side channel from 98.50-60 to 98.20-00 is expected from the American dollar before the news release.
Fig. US dollar index chart. Current price – 98.30 (10-year US government bonds yield – blue line)
Read also: “The oil market and its cloudy prospects”
Andre Green
Earn with the help of the trade service on the news Erste News!
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