The main market’s drivers

After the rapid growth of the US dollar on the US employment data, the market has focused on American dollar’s purchases. It caused a significant overbought, especially given the restrained dynamics throughout the trading week. The negative dynamics of stock indices in Europe and the expectation of a negative start of stock indices in America will continue to support the US dollar, especially in the growth of the 10-year US government bonds yield.

It is worth noting the closing of the trading week, the continued high probability of rates cuts in the United States and uncertainty about the US – China trade talks. Against the background of which we can expect a noticeable correction for the American dollar with the opening of the new trading week. The US dollar index has reached significant resistance levels: 97.30 and 97.50, from which we can expect the formation of a correction.

Fig. The US dollar index chart. The current price is 96.30 (10-year US government bonds yield is the blue line)

Read also: “Features of trading within a week”

Andre Green

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