Analysis of the American Trading Session
Thursday closed with the growth of the US dollar index against a basket of major competitors. The main strengthening of the American dollar was traced against the euro, which was caused by the ECB meeting results. According to the ECB meeting results, it continues to provide cheap loans, keeping current rates at least until the end of this year. It caused a growth of the US dollar against the euro, and after that against European currencies. Against the background of the general growth of the US dollar, pessimism significantly increased, which was also transmitted to commodity currencies.
The dollar index on Thursday updated the annual high at 97.70. But it was under the pressure of correction due to overbought and correction of positions before the jobs report in the US, which will be released today. Significant support levels are located at 97.20 and 97.00.
Fig. The US dollar index chart. The current price is 97.50 (10-year government bonds yield is the blue line)
Read also: “In Focus: Analysis of transactions for a EUR/USD pair during the week”
Andre Green
Earn with the help of the trade service on the news Erste News!
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