Analysis of the American Trading Session

As a result of Thursday’s trading, the US dollar has significantly weakened across the market spectrum on weak inflation data, ECB Draghi’s hawkish statements and overall optimism on stock exchanges. At the end of the day, the dollar index formed a downward trend, which remains oversold.

The consolidation of the American dollar below 94.50 on maintaining optimistic sentiments will open the way to support levels at 94.30-20. On the other hand, the oversold and rising profitability of the US state  bonds, will limit the decline of the American dollar.

The US dollar index chart. The current price is 94.40 (10-year government bonds yield is a blue line)

Read also: “Trade balance influence on the country’s economy “

Andre Green

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

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