State of the market: the market sentiments are changing

Optimism has noticeably increased in the market due to a decrease in tension in trade relations and the risks of a slowdown in the global economy after the US President D. Trump announced new trade negotiations with China yesterday. Earlier, the market remained under the pressure from risks associated with retaliatory duties from China and Trump fierce criticism. Stock indices a received significant support and pressure on the commodity market segment declined amid a dramatic change in market sentiment, .

The US dollar index  also received support on reducing fears of an aggravation of the trade war, but was limited by correctional dynamics. The American dollar against a basket of competitors returned to a significant level of 98.00, remaining under the pressure from the risks of rates cuts and is receiving support from the correction. Thus, it is limited by resistance levels 98.20-30 and support 98.80-70.

Read also: “Expectations from the July Fed meeting”

Hanzenko Anton

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Earn with the help of the trade service on the news Erste News!

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