Analysis of the American Trading Session

The American session closed with a noticeable growth of the US currency against the main competitors on Monday. Earlier on Monday, the US currency remained under pressure of correction against Friday. The reason for the strengthening of the dollar at the end of the day was the correction of positions before the publication of the US Federal Reserve meeting minutes, that will be released on Wednesday.

As a result, the US session on Monday closed with the strengthening of the dollar across the market spectrum, thereby causing a slowdown in the decline of the dollar and questioning the two-week downtrend on the US dollar index. Against the background of the expectation of rates hike in the US and an increase of US state bonds yield, this slowdown may become the reason for the formation of a reversal on the dollar index.

The US dollar index chart. The current price is 94.30 (10-year government bonds yield is a blue line)

Read also: “The Bank of England and the prospects for tightening of monetary policy”

Andre Green

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

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