The main market drivers
On Monday, the European trading session was optimistic about the Brexit deal, despite the postponement of the vote in the British Parliament. As a result, European currencies continued to grow against the US dollar, supporting other world currencies against the US dollar.
It should be noted that general dynamics of the market and the US dollar remain restrained. It couldn’t be said about stock indices, which have shown significant strengthening from the start of the day. The positive start of the US stock indices caused a moderate growth of the American dollar on the rebound from the level of 97.15. At the same time, the downward trend of the US dollar index remains, limited by the downward trend and the trading range from 97.10-00 to 97.30-50.
Fig. US dollar index chart. Current price – 97.20 (10-year US government bonds yield – blue line)
Read also: “Results of the ECB September meeting for the global economy”
Andre Green
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- What to expect from the Bank of England in the face of a tough Brexit
- The results of the US-China trade talks
- Cloudy prospects for the oil market
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