Analysis of the American Trading Session

Trading in the US session on Friday closed November by significantly strengthening the US dollar index against a basket of major competitors. The main growth of the American dollar was traced against European currencies, which was caused by the persistence of risks in Europe and the growth of risks before the G20 summit. The market was expecting more that the US will continue to adhere to a tough trade policy towards China, which has become the actual driver for the growth of the dollar. But according to the results of the summit, the United States and China reached a temporary compromise which at the opening of the new month caused the sale of the dollar and the move against Friday.

From the start of the day, the US dollar index remains under pressure on the growth of optimism and the strengthening of commodity assets. But it is also worth noting that the US dollar index maintains an upward trend and is limited to last week’s lows at the levels of 97.70 and 96.60.

The US dollar index chart. The current price is 96.80 (t10-year government bonds yield is the blue line)

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Andre Green

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

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