Analysis of the American session - Ester Holdings

Analysis of the American session

Trading at the US trading session on Friday closed with a collapse of the US dollar across the market. The response of China to American duties and statements of the White House, which increased the tension of the relative trade war were the reasons for such a significant decrease in the American dollar, in addition to the soft rhetoric of the US Federal Reserve Chairman. This increased negative sentiment in the financial market  significantly and increased fears of a global recession.

According to the results of Friday, the US dollar index fell to the support level of 97.50-40, from which it opened a new week. The American dollar updated the August low but turned out to be limited by oversold and a two-month ascending channel, while remaining under th pressure from the risks of an exacerbation of the trade war.

Fig. The US dollar index chart. Current price – 97.70 (10-year US government bonds yield – blue line)

 Read also: “A new round of trade war:
duties, restrictions, prospects

Andre Green


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

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