Analysis of the American Trading Session

Trades at the American session on Wednesday closed with the ubiquitous growth of the US dollar on the results of the US Federal Reserve meeting, which, despite criticism from US President D. Trump, raised rates by 25 b. p. and signaled a further tightening of US monetary policy in 2019.

For 2019, two increases are planned instead of three, while inflation forecasts remain restrained. At the same time, the Fed did not notice the increase in volatility of recent days, which also alerted the market.

As a result, trading in the US session on Wednesday closed with rapid growth with the update of the US dollar index at the level of 97.10. The opening of the new day passed in the mood of a correction against growth, which completely adjusted the US dollar throughout the market. This indicated a resumption of the downtrend, which is limited to support 96.70-60. A significant support has shifted to the levels: 96.50-40 and 96.20.

The US dollar index chart. The current price is 96.70 (10-year government bonds yield is the blue line)

Andre Green

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