Analysis of the American session

Friday’s trading closed with a restrained strengthening of the US dollar across the market. This was facilitated by the technical correction of the American dollar before the weekend and the preservation of optimism in the market. It is also worth to note Friday US retail sales data, which provided an additional support to the dollar in strengthening.

The US dollar index closed the week above 98.20, thereby indicating the preservation of the downward trend of the American dollar. The week as a whole closed with a decline. A modest strengthening is expected to resistance levels: 98.30-40, support levels: 98.10-00 against the background of aggravated risks in the Middle East and dollar’s attempts of correction.

Fig. US dollar index chart. Current price – 98.20 (10-year US government bonds yield – blue line)

Read also: “How far the prospects for USD/JPY may be downward”

Andre Green

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