Analysis of the American session
The US Friday session closed with a total sale of the US dollar across the market, which was caused by weak US employment data. Against the background of such a significant slowdown in the US labor market, expectations of an early rates cut by the US Federal Reserve look like a matter of time. At the same time, indicators of the US economy look more negative in the future, which may indicate a more significant stimulation of the American economy in the future.
On Friday, the US dollar index closed lower with the low at 96.50, indicating a steady downward trend of the US dollar against a basket of competitors. It is also worth highlighting the overall oversoldness of the American dollar and the achievement of a strong support 96.80-50. In addition to the technical movement against Friday, the US dollar is limited to the lower boundary of the general annual ascending channel. As a result, this may indicate a slowdown in the decline or the formation of a reversal.
Fig. The US dollar index chart. The current price is 97.80 (10-year US government bonds yield is the blue line)
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Andre Green
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