The main market drivers

The pressure on the US dollar intensified closer to the opening of trading on US trading floors. The reason for the correction of the American dollar, in addition to the technical correction, was another criticism from the US President D. Trump towards the Fed and the ECB. He noted a decline in the value of the euro against the US dollar, which significantly increases the advantage in production and export.

The market is restrained in response to such statements, but in the context of the closing of the trading week and the overbought of American dollar, such comments by Trump can strengthen the corrective movement of the US dollar. The US dollar index returned to the opening of the day level, limited by the support levels: 98.40 and 98.20.

Fig. The US dollar index chart. Current price – 98.50 (10-year US government bonds yield – blue line)

Read also: “World Central Banks Prepare to Cut Rates”

Andre Green

Earn with the help of the trade service on the news Erste News!

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