Analysis of the American Trading Session

The US session on Thursday closed with a growth of the US dollar against a basket of major competitors. The American dollar was supported by optimistic employment data in the United States and weak statistics for Europe. Thus, reports of a slowdown in the Italian economy and the possibility of postponing Brexit dates put pressure on European currencies.

As a result, the US dollar index consolidated near significant support levels of 97.00-20, but at the same time slowed down the two-week upward trend. The American dollar continues to trade in an uptrend, limited to the expectation of an employment data in the United States. Significant support settled at 97.20, resistance 97.50.

Fig. 1. The US dollar index chart. The current price is 97.2 (10-year government bonds yield is the blue line)

Read also: “Expectations from the NZD/USD pair at the year’s end”

Andre Green

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