Analysis of the American Trading Session
The US session on Tuesday closed with a total sell-off of the US dollar against most of the major competitors. The reason for the decline of the American dollar was the speech of the US Federal Reserve Chairman Powell, who pointed to the Fed’s waiting policy, amid a decline in optimism around US interest rates. The US currency accelerated the decline, which was traced mainly against safe assets, due to increasing risks around trade negotiations. Pessimism in trade negotiations also increased pressure on stock exchanges.
The US dollar index as the result of Tuesday updated the significant support of 96.00, confirming the downward trend of the American dollar, which, in turn, is limited to significant oversold.
The US dollar index. Current price – 95.90 (10-year government bonds yield – blue line)
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Andre Green
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