The main market’s drivers

The resumption of pessimism in the stock markets of Europe has returned the US dollar to strengthen against most major competitors. So, at the start of the day, the growth of stock indices in the Asia-Pacific region was followed by a decline in the US currency across the  the market. Very weak statistics on Europe and a decline in European stock indices brought US dollar buyers back to the market.

It is worth noting that the negative start of US stock indices is likely to slow down the strengthening of the American dollar, as was the case on Monday. The US dollar index managed to recover the losses at the beginning of the day and return to significant resistance 97.60-70. In the face of continuing concerns about the US-China trade opposition, further dollar growth is not excluded, but it will also be limited by market uncertainty. As a result, in the American session, movement within the range of 97.80 to 97.50-40 is very likely.

Fig. The US dollar index chart. The current price is 97.60 (10-year government bonds yield is the blue line)

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Andre Green

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

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