Analysis of the American Trading Session
The US session on Friday closed with the dollar’s decline on the market on ambiguous employment data in the US. As a result, the US dollar index against the basket of major competitors was fixed below the significant support of 94.20 and tested for strength 94.00, thereby confirming the safety of the downward dynamics of the American dollar.
It is also worth noting that the risks surrounding the trade confrontation between the US and China increased pressure on the dollar, but didn’t actually affect the stock markets that are growing at the beginning of the week. But it is worth noting that the oversoldness of the American dollar can limit its further decline near the levels of 93.80 and 93.60.
The US dollar index chart. The current price is 93.90 (10-year government bonds yield is a blue line)
Read also: “The US Trade War 2.0. New facts »
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Andre Green