Analysis of the American Trading Session
The US trading session on Monday closed with a low-key movement near the lows of the day. Previously, the pressure on the dollar came from the corrective movement against Friday and from the strengthening of the euro against the background of positive data on the business climate in Germany. In fact, the main decline in the US dollar index was in the first half of the day, as well as the negative dynamics in the stock markets of Asian and European stock indices.
The US stock indices and the US dollar index on the American trading session were very restrained, in fact, limited to the opening the day level. Such dynamics can be traced at the opening of trading on Tuesday, pointing to market restraint and the actual absence of drivers for movement. Under the conditions of preserving the uptrend dynamics on the American dollar, the support zone 96.50-40 remains the key one, from which resumption of growth is possible.
The US dollar index chart. The current price is 96.50 (10-year government bonds yield is the blue line)
Read also: “Long-term positions on world indices”
Andre Green
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