Analysis of the American Trading Session

The US session on Thursday closed with a slight decline against the opening of the day. As a result, trading throughout the day for the US currency and the market in general remained multidirectional, but the sellers took over. The reason for the decline of the American dollar first of all was the reduction of risks on stock exchanges and the growth of quotations on Wall Street, which led investors to prefer more risky and profitable assets. Against the backdrop of growing optimism, commodity assets also received support, and, above all, oil quotes, which, despite the growth in US oil inventories, are trading with a strengthening on optimism.

As a result of multidirectional trading on Thursday, the dollar index expanded the downward trading range, but still remains under pressure, limited to significant support at 96.80-70. In the face of further dollar decline in maintaining the downtrend, we can expect the support test 96.50-40.

The US dollar index chart. The current price is 96.80 (10-year government bonds  yield is the blue line)

Read also: “Government bonds as a leading indicator of the foreign exchange market”

Andre Green

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

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