Analysis of the European session

Trading at the European session on Monday closed with the general growth of the US dollar against a basket of competitors. The reason for strengthening the American dollar was the risk of a trade war between the United States and China, which shifted the market’s attention to the American currency. Especially in the conditions of restrained data on business activity in Europe and low market activity at the beginning of the week.

The US dollar index showed the main dynamics in the European trading session. Monday’s end of the day was limited due to days off in the US and Canada. As a result, the end of the day was closed with a flat. At the same time, the American dollar managed to maintain Friday’s upward dynamics and continue to grow, despite being overbought.

Fig. The US dollar index chart. Current price – 99.20 (yield on 10-year US government bonds – blue line)

Read also: “Risks of a trade war return”

Andre Green

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

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