Analysis of the American Trading Session

The US session closed with a decrease in the dollar index on Monday. It was caused by the growth of optimism around the euro and the increasing political risks associated with the mid-term elections in the United States. The reason for the growth of the euro was the information about possible changes in the Italian budget, so it caused an increase in optimism for the euro. Also, the dollar was under pressure from the growth of optimism in the stock markets, which intensified after the positive opening of trading on Wall Street.

At the close of Monday trading the American dollar returned to significant support 96.30-20, indicating the formation of a downtrend. It is  possible the formation of a sideways movement in the US dollar under conditions of increasing political uncertainty.

The US dollar index chart. The current price is 96.30 (10-year government bonds  yield is the blue line)

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Andre Green

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