State of the market: investors await the results of trade talks

Trading on Wednesday remains restrained positive dynamics of the American dollar, which closed on Tuesday. Positive expectations of the results of the US – China trade talks remain the reason for maintaining optimism about the dollar. The positive outcome of which is associated largely with political risks in the United States. As a result, the market is virtually certain of trade concessions.

There is a decrease in demand for safe currencies: the yen and the franc against the background of the expectation of positive results of trade negotiations in the market. But optimism provides the main support to the American dollar. So, the US dollar index came out of the side channel and formed an upward reversal. In the future, it may serve as an occasion for an upward trend if it is supported by the positive results of trade negotiations. The dynamics of the US dollar index is limited by resistance levels: 99.20-30 and 99.50, support is located at levels: 99.00 and 98.80.

Read also: The results of the July Fed meeting for the market”

Hanzenko Anton

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