Analysis of the American Trading Session
The US Friday session closed with a decrease in the US dollar against a basket of competitors. The driver to the decline in the US dollar remained optimistic expectations from the trade negotiations. So, at the weekend, optimism about the US – China trade talks was confirmed by the US President’s statement about the defer for new tariffs on Chinese goods.
The US dollar index at the end of Friday updated the high at 96.80, which indicated a slowdown in the decline. The resumption of optimism about trade negotiations and the test of support at 96.40 on Monday indicates that the downtrend has been maintained, which was observed last week. Separately, it is worth noting the preservation of the side channel from 96.70 to 96.40, which may remain uncertain and slow down the existing trends.
The US dollar index chart. The current price is 96.40 (10-year government bonds yield is the blue line)
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Andre Green
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