The main market’s drivers

Despite the resumption of activity in the market after the weekend in the UK and the USA on Monday, market activity remains insignificant, and general sentiment remains ambiguous. So, with the decline in stock indices in Europe, commodity assets and oil continue to trade significantly above zero, having a restraining effect on commodity currencies. This is traced in Australian and New Zealand dollars.

Canadian currency remains under the pressure, but only thanks to the expectation of soft rhetoric from the Bank of Canada, the results of which will be published tomorrow. Safe haven assets are also very restrained, despite the risks. Such a trend indicates market uncertainty in terms of relative easing of trade stress.

Multidirectionality and lack of clear dynamics persists in the US dollar index. Despite the upward impulse, the American dollar is limited to the resistance zone 97.80-90. The negative opening of US stock exchanges will increase the pressure on the American dollar.

Fig. The US dollar index chart. The current price is 97.80 (10-year US government bonds yield is the blue line)

Read also: “Analysis of speeches of key persons of the financial market”

Andre Green

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