Analysis of the American Trading Session
The US session on Tuesday closed with a moderate dollar growth against a basket of competitors, which fell on European currencies and in particular on the British pound. Also, the American dollar was supported by the general slowdown in the growth of world stock indices and the rapid growth of the US state bonds profitability.
As a result, Tuesday’s trades on the American dollar closed with the updating of psychological resistance of 96.00. Positive expectations from the US – China trade negotiations and the preservation of the downward dynamics on the American dollar returned the dollar to decline on Wednesday, thereby confirming keeping the downward dynamics, which may increase with the positive opening of European stock indices. Significant support is located at levels: 95.70-60 and 95.50.
The US dollar index chart. The current price is 95.80 (10-year government bonds yield is the blue line)
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Andre Green
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