State of the market: dollar slowed down its growth

With the opening of trading on Wednesday, stock indices in the Asia-Pacific region are traded in different directions, staying near zero. After yesterday’s collapse in stock indices and the negative closing of trading on Wall Street, the opening of trading in Asia is very restrained. The main driver for the slowdown in the decline of stock indices at the start of the day was China’s indices, which show moderate growth, which contributes to the return of optimism to the market and technical correction after a decline.

The US dollar index, in turn, began the day in a sideways trend, showing a moderate decline in the correction. Yesterday, the dollar index showed a rapid increase in the growth of risks and negative sentiment. As a result, the American dollar rebounded from the level of 96.20 and updated the high at the level of 96.80, which confirmed the possibility of forming a correction and resuming the general uptrend, limiting it to the existing downward dynamics.

Read also: “Dow Theory – the basics of technical analysis.”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Gold is limited to annual correction! What to expect?!
2. The Australian dollar (AUD) is in anticipation of the annual correction! What to expect?!
3. Dow Theory – Averages must confirm each other!

Current Investment ideas:

1. “3 reasons to buy  Cisco Systems Inc. shares”
2. “It’s time to hit the jackpot on the sale of McDonalds shares!”