State of the market: the dollar strengthens at the start of the week
At the opening of trading on Monday, the US dollar and other assets of the safe harbor trade with strengthening, which is caused by the preservation of risks in the banking sector of the eurozone due to the crisis in Turkey, which escalated against the background of new US duties. As a result, the market remains negative sentiments on Friday. Stock indices of the Asia-Pacific region are traded significantly below zero, indicating the continuing risks in the market.
The dollar index against the basket of major competitors has updated the current year’s high on the investors flight from the risks at the level of 96.50. At the same time, the upward dynamics of the dollar remains, limited to resistance levels: 96.50 and 96.80. Also, do not forget about the significant overbought of the US dollar and the safe harbor currencies yen and franc, which can cause a correction.
Read also: “Stock indexes: the Japanese market”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Emerging markets and their prospects: Chinese yuan (CNH or CNY)
- Stock indices: the Japanese market
- Emerging markets and their prospects: Turkish lira (TRY)
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