State of the market: negative sentiments are growing in the market
From the start of trading on Thursday, negative sentiment increased in the market due to the exacerbation of trade tension between the United States and China, which turned into a political channel when a member of Huawei’s management was detained in Canada. As a result, it significantly hit the shares of technology companies and questioned the implementation of agreements to weaken the trade opposition.
This event strengthened investors’ desire for safe assets and provided restrained support for the US currency against the background of risks. Thus, the US dollar index has been trading with a slight increase since the beginning of the day, indicating that the upward dynamics in the US dollar has been maintained, while limiting itself to resistance levels: 97.20-30 and 97.50.
Read also: “Fundamental Analysis: Influence of Inflation Indicators on World Currencies”
Hanzenko Anton
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