State of the Market: stock markets renewed optimism

The Asia-Pacific session opened with the growth of stock exchanges on the optimism associated with the strengthening of the cost of raw materials, and the growth of shares in energy companies. The reason for maintaining positive sentiments for oil continues to be the data on the US withdrawal from Iran’s nuclear agreement and the reduction of oil reserves in the United States.

The US dollar index against the basket of world currencies is trading in the correction phase, limited to support levels: 93.00 and 92.80. The decline in the US dollar was caused by the decline in the profitability of 10-year US state bonds on the repulsion from the level of 3%. The weakening of the US dollar index is more corrective in nature and it is early to speak about trend reversal while the index remains above the levels: 92.80 and 92.60-50.

Hanzenko Anton