State of the market: the dollar is under the pressure
With the opening of trading on Thursday, the US currency remains under the pressure. The main decline in the US dollar has fallen against safe-haven currencies: the yen, the franc, gold and partly the euro. Such dynamics is associated with heightened risks and an increase in pessimism in stock markets. The reason for this was the continued tension in US-Chinese trade, uncertainty about the monetary policy of the US Federal Reserve and signs of a slowdown in the global economy.
As a result, the US dollar index has remained under the pressure since the start of the day, testing support 97.10. In the conditions of preservation of the existing dynamics, the American dollar is directed to the support levels: 97.00 and 96.90. The limiting factor is its oversold and attempts of correction.
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Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- The trade war. Relations between Japan and South Korea
- The Japanese yen: expectations and prospects.
- US and China return to the negotiation table
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