Analysis of the American session

The American trading session on Friday closed with a restrained movement of the US dollar index in the established trading range. The reason for the decline in the American dollar and restrained recovery was the mixed data on the US employment, which, despite some positive points, remained highly likely to stimulate the US economy in the future. Separately, it is worth to note the Canadian dollar, which continued to grow on reducing risks and positive employment data.

Trades at the American session on Friday closed with a flat movement from 98.50 to 98.20, indicating a slowdown in downward dynamics and the formation of a correction. Further strengthening of the dollar will be limited by the expectation of rates cuts in the United States.

Fig. US dollar index chart. Current price – 98.40 (10-year US government bonds yield – blue line)

Read also: “The national currency exchange rate
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Andre Green

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