Analysis of the American session - Ester Holdings

Analysis of the American session

Trading on the American session on Thursday closed with a collapse of an American against a basket of major competitors. The reason for this was the statements of China about the retaliatory duties and the aggravation of the trade confrontation between the United States and China. The driver for the collapse of the American dollar was the negative dynamics of US stock indices, which was a consequence of the growth of negative sentiment in the market.

The main decline of the American dollar was tracked against the euro and the Swiss franc. At the opening of trading on Friday and the positive dynamics of the stock indices in the Asia-Pacific region, and in particular the Chinese indices, commodity currencies received moderate support. The overall dynamics of the US dollar index remained restrained, limited to the support of 97.30-20 and resistance of 97.60-70.

Fig. The US dollar index chart. The current price is 97.40 (10-year government bonds yield is the blue line)

Read also: “Stock Indices and their Impact on the Forex Market”

Andre Green


 

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