The main market drivers - Ester Holdings

The main market drivers

The US dollar at auction on Tuesday remains under the pressure against a basket of competitors. In addition to the technical correction of the dollar after growth on Monday, the American dollar was under pressure due to the fact that Saudi Arabia will fully resume oil export within 2-3 weeks, thereby causing a rapid decline in the price of oil, which is currently being traded near Monday lows. The decline in oil prices partially returned optimism to the market and increased pressure on the American dollar.

From the start of the day, the US dollar index has remained under the pressure of correction after growth and dollar positions before the meeting of the US Federal Reserve, the results of which will be published tomorrow. As a result, the American dollar weakened against the euro and the British pound, but strengthened against commodity currencies and safe haven currencies. The US dollar index is testing support levels for correction: 98.40-50. By this, he indicates the correction phase, but is limited to support.

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

Read also: “What does British pound await for with a new prime minister

Andre Green


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

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