State of the market: US and China continue trade negotiations

On Friday trades, the US dollar continues to trade with strengthening throughout the market. The reason for the strengthening of the American dollar was evidence that the United States and China start trade negotiations at a new level. Such a statement caused a reduce of the risks of an aggravation of the trade war, but it retained some investors’ fears, causing a strengthening of the US dollar, but to a lesser extent the commodity currencies, which remain oversold. This may indicate market hesitation and concerns about the resumption of trading risks.

The US dollar index has been storming new highs near the level of 98.50 from the start of the day, indicating the preservation of the upward trend, which is supported by the growth of the US government bonds yield. The upward trend in the dollar remains largely dependent on the course of trade talks. In conditions of correction of positions before the weekend, the correction of the American dollar is not excluded.

Read also: “Expectations from the USD/JPY for the end of April – early May”

Hanzenko Anton

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

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