Analysis of the American Trading Session
Trading on the US session on Monday closed with a decrease in the US dollar against a basket of major competitors. The driver for the sale of the American dollar continues to be weak expectations for the growth of the consumer price index in the United States. Concerns about which increased after the publication of the weak deflator of US GDP. These concerns also intensified before the US Federal Reserve meeting, which is expected to have even softer rhetoric amid low inflation.
As a result, the US dollar index is trading near the lower limit of the weekly upward channel, limited to the support level of 97.80. A collapse in the US government bond yields is likely to slow the decline in the dollar. Resistance marks are: 98.00-10.
Fig. The US dollar index chart. The current price is 97.90 (10-year government bonds yield is the blue line)
Read also: “Government Bonds as a Market Driver”
Andre Green
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Multifactorial analysis of the Forex market
- Expectations from the USD/JPY for the end of April – early May
- U.S. and E.U. Trade War
Current Investment ideas: