Analysis of the American Trading Session

The American trading session was closed by the US dollar reduction across the entire spectrum of the market, despite the statements of the US Federal Reserve. The Fed, as expected, raised the key interest rate to 2.00% and signaled about two more increases this year, thereby playing an optimistic scenario for the dollar. But the American dollar, despite the notable support and growth of volatility, did not come from the Wednesday downward dynamics, which remained from the beginning of the European session.

The reason for the USD sale continues to be the expectation of the ECB meeting and the expectation of data on the beginning of the curtailment of the stimulus program in the euro area. At the same time, the market switched to a trade confrontation between the US and China, which adversely affects stock exchanges and as a result intensified the flight of investors from risky assets and the particular US dollar.

The US dollar index emerged from an uptrend and returned to a downward mood. So, fixing the dollar index below the level of 93.60 indicates the possibility of testing support levels: 93.40 and 93.20. Resistance marks are: 93.60 and 93.80.

Read also: “Fundamental analysis: Inflation and the impact of its indicators on world currencies”

Andre Green