Analysis of the American Trading Session
Friday’s trading on the American session closed with the ubiquitous growth of the US dollar against a basket of major competitors. The reason for such a rapid increase in the US dollar was the data on the possibility of canceling trade tariffs between the United States and China, which were talked about before the next negotiations between the United States and China on January 30. It is too early to assert any results of the trade negotiations, let alone the cancellation of duties, but the growth of optimism in the market and the comments of the negotiators indicate a decrease in tension in a trade war.
As a result, the US dollar index updated the high of last weeks indicating the potential for strengthening on maintaining upward dynamic. With the optimism and uptrend preserved, a further growth is expected from the American dollar with a test of resistance levels: 96.50 and 96.70.
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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