State of the market: the market is waiting for new drivers
At the start of the day, the US dollar is held back trading near the lows of Monday against the main competitors. The exception was the New Zealand dollar, that significantly strengthened on the data on the growth of core inflation in New Zealand. Other pairs and the US dollar index traded very restrained, waiting for the speech of the US Federal Reserve Chairman Powell, which could become a driver for the American dollar movement.
Stock indices of the Asia-Pacific region are trading below zero after the negative closing of trading on Wall Street and growing pessimism after the Helsinki summit. Preservation of such sentiment at the European session may resume sales of the US dollar, but it will also be limited by the expectations of the US Federal Reserve.
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Hanzenko Anton
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