State of the market: the market is moving against Friday

The main dynamics of the market is aimed at moving against Friday with the opening of trading in the new week. So, the main currency pairs are traded with a restrained correction against the Friday movement, which was largely associated with a decrease in the US dollar. The reason for the weakening of the American dollar was the expectation of the trade talks results and a the US Federal Reserve rates cuts. Separately, it is worth to note the strengthening of the British pound, which has received a support on reduced risks of a tough Brexit.

But with the opening of a new week on the market, the formation of corrective movements is traced. So, the British pound was under the pressure on the renewed risks of Brexit and the imminent release date from the EU. The US dollar also received support on the correction after the decline, but remained under the pressure of a downtrend and growth in the US government bonds yield. Significant resistance for the dollar will be marks: 98.50-60 and 98.80. Support is located at 98.20 and 98.00.

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Hanzenko Anton

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