The state of the European session

Trades on the European session remain sluggish due to the absence of significant drivers. Stock indices in Europe and America remain positive after the growth of Asian sites at the beginning of the day on the growth of profutability of the US state bonds.

In addition to restrained trading of the US currency, which is also traded in a sideways trend, there is a restrained growth of interest in the British pound and the Canadian dollar. This is mainly because investors search for more profitable assets and correction of positions before tomorrow’s publication of the Bank of Japan’s protocol. The correction of the yen positions is particularly noticeable in cross-rates, which also indicates the risks in the Japanese currency, caused by the preservation of the soft monetary policy of the Bank of Japan.

The US currency, like the euro, remains clamped in a narrow sideways trend due to the absence of news and drivers for the movement.

Fig. EUR/USD. Current price – 1.2240

Hanzenko Anton