The main market’s drivers

The European session became a reversal for the US currency, that was under pressure after growth at the start of the day, thereby forming a sideways trend, limited to the Monday trading range. The decline of the American dollar passed against the majority of the main competitors, while the assets of the safe harbor remain very restrained against the American dollar. The reason for this movement was the resumption of optimism in European stock exchanges. Investors are in no hurry to increase their share in risky assets, limiting themselves to the expectations of the US Federal Reserve, which will come out tomorrow and may also indicate a correction for the US dollar.

Technically, the US dollar index, starting from Monday, is trading in flat, limited to the trading range from 94.00-93.80 to 94.30-40, thereby maintaining a downtrend and expecting a rate hike in the US.

The US dollar index. The current price is 94.10 (10-year government bonds yield is a blue line)

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Andre Green

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

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