Analysis of the American Trading Session

On Thursday the American session was closed by the growth of the US dollar across the whole spectrum of the market, which was caused by a number of factors. The main reason for the strengthening of the dollar was the sale of the euro at the ECB’s decision and Draghi’s comments, which made it clear that interest rates in the eurozone will not rise for at least another year, and the incentive program is still necessary, despite waiting for it to end at the end of the year. As a result, the market was completely disappointed in the euro. An additional factor for the growth of the US dollar was the optimistic data on sales in the US and the resumption of trade confrontation with China.

This allowed the US dollar index to show rapid growth against the basket of major competitors. At the time of writing, the US dollar index is trading near psychology at 95.00, the highest value since November last year, near which it is possible to correct the overbought American dollar. In the conditions of preservation of risks on the market, it is not necessary to reject the possibility of updating the annual maximum.

Andre Green