Analysis of the American Trading Session

Trading in the US session on Thursday closed with a collapse of the dollar across  the market, which was caused by weak US statistics and an increase in optimism in the market. But the main driver for the decline in the dollar was the growth of the Chinese yuan in reducing the risks of trade confrontation between the US and China.

As a result, the US dollar index broke the uptrend of the end of October and moved to the correction phase, opening the way to support levels: 96.00 and 95.70, resistance was located at the levels: 96.30 and 96.50.

The US dollar index chart. The current price is 96.20 (10-year government bonds yield is the blue line)

Read also: “Emerging markets and their prospects: Chinese yuan (CNH or CNY)”

Andre Green

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

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