Analysis of the American Trading Session
The US trading session on Wednesday closed with a restrained movement of the US dollar index against a basket of major competitors, effectively returning to the opening of the day and closing the day in the flat. The American dollar were supported in the second half of the day by data on reducing the trade balance deficit, which greatly increased optimism for the American dollar and limited its further decline. The overall dynamics of the American dollar continues to be restrainedly downward, aided by a decline in market activity ahead of the weekend.
As a result of Wednesday, the US dollar managed to break through the level of 97.00, but did not strengthen above this level, indicating that the weakness and downward trend remained. It should be noted the importance of lateral dynamics, which may limit the decline. Expected trade range from 97.10 to 96.80.
Fig. The US dollar index chart. The current price is 96.90 (10-year government bonds yield is the blue line)
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Andre Green
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