State of the market: pessimism persists in the market
With the opening of trading on Thursday the growth of negative sentiment can be traced in the stock markets of the Asia-Pacific region. The reason for the growth of pessimism at the start of the day was restrained negative inflation data in China, which slowed down a bit in March. At the same time, the bulk of the report on the consumer price index (CPI) of China remained at the level of the forecast. In addition to the pessimistic data on inflation in China, pressure on the stock markets and markets in general was exerted by the meeting results of the Central Bank of the Eurozone and the United States with its restrained policy based on fears of increased risks.
From the start of the day, the US dollar index has been trading near the fresh monthly lows, keeping the lateral dynamics on the attempts of correction, indicating the potential to decline. Support levels: 96.80-70, resistance: 97.00 and 97.10.
Read also: “Fundamental Analysis: The Influence of Inflation Indicators on World Currencies”
Hanzenko Anton
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