Analysis of the American session

The US session on Thursday closed with a restrained movement of the US dollar against most competitors. The US Federal Reserve Chairman Powell hints about the US rates cut at the upcoming Fed meeting were the reason for the restraint American dollar. This actually compensated support for the American dollar from positive data on the US inflation.

The US dollar index on Thursday closed the day above the psychological level of 97.00, which gave some hope for growth. But the growth of optimism in the stock markets and the sale of the dollar at the opening of trading on Friday indicated the opposite. It is also worth noting the restraint of the market, which is limited to the range from 97.10 to 96.80.

Fig. 1. The US dollar index chart. The current price is 96.90 (10-year US government bonds yield is the blue line)

Read also: “In Focus: Analysis of transactions of the EUR/USD pair during the week”

Andre Green

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