State of the market: the dollar weakened due to the absence of a conclusion of trade negotiations

With the opening of trading on Thursday, trading in major currency pairs opened with a sharp decline in the US dollar. The reason for this was the evidence that the two-day negotiations did not yield results on controversial issues. This meeting was held at the level of deputies and was supposed to set the stage for a summit. As a result, the US currency declined, but safe currencies came under even greater pressure. The reason for their decline was the preservation of optimism and the expectation of the market to achieve a trade compromise between the United States and China.

After the decline, the US dollar index is trading near psychological support 99.00, thereby limiting itself to trading risks, but maintaining the upward trend of the current week. Resistance levels are located at: 99.20 and 99.30, support: 98.90 and 98.80.

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Hanzenko Anton

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