Analysis of the American Trading Session

Trades on Tuesday closed with a low-key correction of the American dollar after the annual maximum against the basket of major currencies. Previously, support for the US currency was provided by Draghi regarding the ECB’s restrained policy, which resumed the sale of the euro across the entire spectrum of the market. At the same time, the trade confrontation and the associated risks remain a deterrent for the US dollar.

The positive start of the Asia-Pacific stock markets indicates the correction of stock indices and the reduction of risks in the absence of new data on trade confrontation. But the general fears surrounding the US trade war persist. Thus, with the positive opening of the European stock indices, we should expect an increase in demand for risky assets and partly the euro as part of the correction. But global risks in the market remain.

Also today, a three-day meeting of OPEC members and non-cartel countries will start, which may trigger volatility in the oil market, which is caused by the expectation of statements and increased quotas for oil production.

Andre Green