May 20: American Session
Tatiana Norkina, analyst at FBS
The U.S. dollar has strengthened somewhat today, returning to the area above the 80th figure, but the bearish pressure is still strong. Currently, the index is adding about 0.05%. The U.S. stock markets have opened with a pretty big downfall today. Thus, DJIA has lost 0.33%, S&P500 - slightly more than 0.35%.
Strengthening of the US dollar has had an impact on the currency markets as well. Thus, the major Forex market currency pair - EUR/USD - was sliding to the 1.3675 area today. After a small correction to the 1.3700 figure, the bears keep on advancing. The USD/CHF pair has broken through the 0.8925 resistance and buyings are likely to increase. The British currency was supported by today's inflation data: the GBP/USD pair was recovering to the 1.6865 mark but is still trading in the 1.6840 area. The USD/JPY currency pair remains under pressure - it is consolidating under the recent support of 101.40.