The main market’s drivers

After a restrained correction at the start of the day, the US dollar resumed a decline against the basket of major competitors, which was caused by the continued optimism in the market and the positive opening of trading on Wall Street. Negative factor for the dollar continues to act restrained rhetoric of the US Federal Reserve Chairman Powell and the actual disregard of the aggravation of the trade confrontation between the US and China.

As a result, the US dollar index overcame the psychological support level at 95.00 and aimed at support, which is located near the level of 94.80-70. The market also shows a rapid growth in the 10-year US state bonds yield, which could slow the decline in the dollar.

The US dollar index chart. The current price is 95.00 (10-year government bonds yield is a blue line)

Read also: “Stock indices:  European Union”

Andre Green

Earn with the help of the trade service on the news Erste News!

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