The main market drivers: the dollar continues its growth on negative sentiment - Ester Holdings

The main market drivers: the dollar continues its growth on negative sentiment

From the start of the day in stock markets have been observed pessimistic sentiments. The reason was the multidirectional corporate reports and the speech of the US President D. Trump, which, despite expectations, did not give hints of the prospects for the US-China trade confrontation, heightening pessimism about the prospects for the global economy while the tension in the trade confrontation remained.

Significant decrease is shown by German stock indices (DAX -0.50%) and France (CAC 40 -0.20%), indicating persistent pessimism in the eurozone. Commodity currencies were under significant pressure on negative sentiment and the US dollar received the support. The US dollar index is trading in the upward channel, limited to overbought and resistance levels: 96.30-20 and 96.50.

The US dollar index chart. The current price is 96.20 (10-year government bonds yield is the blue line)

Read also: “Trade balance influence on the country’s economy”

Andre Green

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