Analysis of the American session

The American trading session on Friday closed with a moderate decline in the US dollar against a basket of competitors. The restrained US employment data was the driver of the American dollar decline, which, in the context of aggravated trade relations, could become a reason to stimulate the US economy in September. The aggravation of the US – China trade relations also increased pressure on the American dollar due to risks.

As a result, the US dollar index closed Friday trading lower, and fully corrected after growth on the meeting results of the US Federal Reserve. A further decline in the American dollar against a basket of competitors is limited by oversold. In this case, a downward dynamics is maintained. Resistance levels: 98.10 and 98.30, support: 97.80 and 97.60.

Fig. The US dollar index chart. Current price – 97.90 (10-year US government bonds yield – blue line)

Read also: “Prospects for the euro based on ECB policy”

Andre Green

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

Topical articles of the trader’s blog:

1. Trade signals results for half a year
2. What does British pound wait for with a new prime minister
3. The risks of a trade war are back