Analysis of the American session
U.S. Wednesday trading closed with a restrained strengthening of the US dollar against a basket of competitors. Growth of the American dollar was more evident against the safe haven currencies: the yen and the franc. The reason for this was the growth of investor craving for risks and expectations of statements at the Jackson Hole Symposium.
At the same time, the US dollar index retreated from significant support at 98.20, returning to a restrained upward trend. Limited to the restraint of the market and the formation of the side channel, the downward trend in the US government bonds acts as a deterrent to the growthof the American dollar. The dollar can receive support from growth in activity and upward dynamics. Expected trading range is from 98.20-10 to 98.50-60.
Fig. The US dollar index chart. Current price – 98.30 (10-year US government bonds yield – blue line)
Read also: “Escalation of the US-China Trade War
and what it means for the market? ”
Andre Green
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- ECB is preparing a stimulus package
- The national currency exchange rate as an advantage in trade talks
- A new front opens in the trade war
Current Investment ideas:
- Selling Alcoa shares makes a profit! Three reasons to connect now!
- The trade war for Boeing: good or bad and how can we make money from it!