Analysis of the American Trading Session

According to the results of the trading session on Wednesday, the US dollar returned to the lows of the month against a basket of competitors, despite attempts to grow. The comments of the ECB President M. Draghi, who declared that risks remain and a high probability of recession, became the driver for the growth of the American dollar. The report caused a short sale of the euro across the market.

Against the background of the euro’s weakness, the American dollar managed to retreat from its lows, updating the high at 97.20 in the US dollar index. But the US dollar index was not able to maintain an upward trend. By this, he actually pointed to the preservation of the downward dynamics, opening the way to support levels 96.80-70.

Fig. The US dollar index chart. The current price is 96.90 (10-year government bonds yield is the blue line)

Read also: “Fundamental Analysis: Inflation and the Impact of its Indicators on World Currencies”

Andre Green

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