State of the market: an American dollar is under pressure of reduction trading risks - Ester Holdings
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State of the market: an American dollar is under pressure of reduction trading risks

After an informational throw-in regarding the expectation of new tariffs for cars with the EU at the end of Wednesday’s trading, negotiations on a trade agreement between the US and the EU went the other way. Thus, the meeting of US President D. Trump and EU President Juncker on the trade agreement was very productive. Both leaders spoke in favor of free trade and an increase in exports. At the same time, in the statements, there were hints about the restriction of car goods, which keeps worrying about the car trade conflict between the US and the EU.

Data on the reduction of risks in the trade confrontation increased the pressure on the US dollar. On the other hand, the strengthening of the euro remains limited due to expectations of the results of the ECB meeting.

The US dollar index, on easing the trade confrontation, broke through the key 94.20 support, which corresponds to the neck level in the figure “head and shoulders” and may indicate a more significant decline to the support levels: 94.00 and 93.80. Resistance is the mark: 94.20 and 94.40-50.


 

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Hanzenko Anton

 

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  1. Stock indices: European Union
  2. Emerging markets and their prospects: Russian Ruble (RUB)
  3. Stock indices: the US market

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