The main market drivers
Against the backdrop of worsening political risks in the US, related to cases of interference in the presidential elections, the US dollar received another blow. The fact that the main issues in the NAFTA trade agreement between Canada, the United States and Mexico remain open became as the reason for the American dollar sale.
Against the backdrop of the weakness of the dollar, this has become another factor in the decline of the American dollar against the basket of major competitors. So, the US dollar index is trading near the 95.00 mark, the breakthrough of which will open the way to the level of 94.80, which is the lower limit of the multi-month channel. The resistance level at the moment is 95.20.
The US dollar index chart. The current price is 95.00 (10-year government bonds yield is a blue line)
Read also: “Oil market: correction or growth limit?”
Andre Green
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Stock indices : Asia-Pacific region
- Collapse of the Turkish lira. A threat to the market!
- Medium-term prospects for the US dollar for August-September
Current Investment ideas: