Analysis of the American Trading Session

Trading on Friday closed with US dollar decline across the market,  mainly due to the speech of the Fed  Chairman and the rapid growth of the Chinese yuan. The Chinese currency received support from the change in the monetary policy of the Central Bank of China, which was counter-cyclical and ultimately indicates the preparation of China’s economy for new rounds of trade confrontation.

The US dollar index closed the week near psychology at 95.00, that confirms the continued downward trend for the American dollar. Against the background of oversold and technical correction, the downtrend will be limited to attempts at correction to resistance levels: 95.30 and 95.50.

The US dollar index chart. The current price is 95.30 (10-year government bonds yield is a blue line)

Read also: “Stock indices: the Japanese market”

Andre Green

Earn with the help of the trade service on the news Erste News!

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