The main market’s drivers

After the rapid sale of the US dollar at the beginning of the American session and the flight of investors from risks, the market continues to monitor OPEC negotiations regarding the cut of oil production and data on the US political scandal over the arrest of a member of the Huawei company. As a result, very negative sentiments can be traced on the market, which indicate that the United States and China trade confrontation may flare up with a new force.

On these news, the US currency has already come under pressure against a basket of major competitors. It is also worth noting the correction of positions on the American dollar before the publication of an employment data in the United States, which will be released tomorrow and expectations for which remain very negative. As a result, the US dollar index returned to the lows of the week and is limited to support levels: 96.50-60 and 96.30-20. A correction of the American dollar is possible in the face of reducing dollar positions.

The US dollar index chart. The current price is 96.70 (10-year government bonds yield is the blue line)

Read also: “Deutsche Bank is- alive or not”

Andre Green

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

Topical articles of the trader’s blog:

1. Doji candlesticks. Rare species.
2. Will it be new oil quotas in OPEC?
3. Doji candlesticks on the FOREX market

Current Investment ideas:

1. “3 reasons to buy  Cisco Systems Inc. shares”
2. “It’s time to hit the jackpot on the sale of McDonalds shares!”