The main market's drivers - Ester Holdings

The main market’s drivers

The European session on Monday showed a further sell-off of US currency against a basket of competitors, which can be traced from Friday. The restraint of stock indices and the very low activity of the market at the start of the week, intensified by the US and Canada holidays and put additional pressure on the dollar, given the possibility of weakening the US – China trade confrontation. This movement carries with it a big correctional movement after the dollar’s growth on the exacerbation of trade opposition.

The dynamics of the US dollar index remains downward under the pressure of correction after prolonged growth. Significant support continues to be at the levels: 96.70 and 96.50-40. The main decline of the American dollar falls against European currencies and gold.

 

The US dollar index chart. The current price is 96.70 (10-year government bonds yield is the blue line)

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Andre Green

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