Analysis of the American Trading Session
The US session of Wednesday demonstrated multidirectional dynamics of the US currency, which was caused by fundamental factors. So, by the end of the Wednesday afternoon, information appeared that the Trump administration’s members expect by the end of the year the introduction of new tariffs for cars in the US, which led to an increase in pessimism in the market and a strengthening of the dollar towards the opening day.
The reason for the resumption of optimism was the results of talks between US President D. Trump and the EU President Juncker on trade relations, which turned out to be very productive and aimed at free trade. This resumed the decline of the American dollar throughout the market spectrum.
As a result, the dollar index renewed the two-week low and consolidated below the level of 94.20, indicating the preservation of the downward dynamics in the US dollar.
The US dollar index chart. The current price is 94.20 (10-year government bonds yield is a blue line)
Read also: “Analysis of Japanese candlestick – the main candlestick models”
Andre Green
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