Analysis of the American session

Trading at the US trading session on Thursday closed with a weakening US dollar against a basket of major competitors. The reason for the decline in the American dollar was weak data on business activity in the USA and correction of positions before the Jackson Hole symposium. The US Federal Reserve is expected to make statements from this symposium regarding the US monetary policy. This led many market participants to adjust their positions in the USD.

But general dynamics of the US dollar index remained limited to a weekly flat and maintained an upward trend despite the expectation of significant comments on the Fed. The decline in the American dollar on Thursday was fully won back at the opening of trading on Friday, which confirmed the safety of the lateral trend and the expectation of the US Federal Reserve statements.

Fig. The US dollar index chart. Current price – 98.40 (10-year US government bonds yield – blue line)

Read also: “Gold: results and forecasts”

Andre Green

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Earn with the help of the trade service on the news Erste News!

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