State of the market: the American dollar remains under the pressure

With the opening of trading on Monday, the downward sentiment on the US dollar remains on the market. The dovish comments by Fed Chairman Powell on risks, inflation rates and the US economy remain the reason for this. The main negative factor for the US currency continues to be the expectation of the key interest rate cut by the US Federal Reserve. Against this background, the American dollar remains under the pressure of downward dynamics across the market.

The index of the US dollar has been trading at the opening level from the start of the day, adjusting after Friday’s decline, but limited to the downward trend and resistance levels: 96.90 and 97.00. Support levels are located at the levels: 96.50 and 96.60.

Read also: “How long will the rising rally of the American continue
based on the growth of the profitability of the US bonds”

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. The Japanese yen: expectations and prospects.
2. US and China return to the negotiation table
3. Cryptocurrency market continues the growth data on Libra

Current Investment ideas:

1. IBM shares will continue to decline. Get ready to make money on this with a ready-made investment idea from Ester!
2. Make Money on Intel Shares Growth!