Analysis of the American Trading Session
Friday trades closed with the rapid growth of the American in the whole market spectrum, that was caused by growing risks on information that China canceled the meeting with the US on trade negotiations, which provoked the resumption of risks around the US and China trade confrontation. European currencies also did not become an exception and were under pressure after British Prime Minister T. May announced that Brexit negotiations had reached a deadlock and called on the EU to make new proposals. As a result, the British pound collapsed across the market spectrum, pulling the euro as well.
Trading on the American dollar closed with a significant increase in the US dollar on Friday, thereby allowing the dollar index to adjust significantly after a decline. Preservation of risks is also traced on Monday and supports the dollar. But the downtrend on the American dollar is also maintained, thereby limiting the growth of the dollar resistance levels: 94.40-50.
The US dollar index. The current price is 93.90 (10-year government bonds yield is a blue line)
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Andre Green
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Friday trades: features and patterns.
- Prospects for the dollar by the end of September beginning of October 2018
- The EU and the UK are making compromises on Brexit
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