State of the market: pessimism returns to the market
Friday’s trading opened with mixed data on China and the growth of pessimism on the stock exchanges in the Asia-Pacific region. After the publication of weak data on China’s GDP, indicating a slowdown in the DPRK economy, industrial production and employment seemed very positive. The market preferred to focus on the negative side of the report, putting pressure on Chinese stock indices.
In general, the market has remained restrained from the start of the day, limiting itself to attempts of correction the US dollar after the decline and the growth of negative sentiment. The US dollar index retreated from the recent low of 97.50, but remains under the pressure. A further decline in the American dollar remains difficult due to its overselling, which may cause a restrained correction to the resistance levels: 97.08 and 98.00. Pessimistic market sentiment in this case is a limiting factor.
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Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
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