State of the market: the market is restrained at the start of the week

The US dollar collapsed significantly on Friday amid aggravated risks and an increase in the likelihood of lower rates in the US. The reason for it was the expectation of widespread exacerbation of trade confrontation from the United States. So, earlier, the US President D. Trump announced the introduction of trade duties against Mexico in the amount of 5%, and official representatives of China announced the possibility of restricting the sale of rare earth minerals to the United States.

With the opening of trading on Monday, a modest formation of the movement against Friday against the US dollar can be traced on the market. This was facilitated by the reduction of general risks on optimistic data on business activity in China and the message that the United States refused to pay duties on Australia.

As a result, the US dollar index opened a new month with restrained growth, having rebounded from a low of 97.60, actually having formed an upward correction, which is limited by resistance levels: 97.80 and 97.90.

Read also: “Financial quarter correction”

Hanzenko Anton

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