State of the market : the market is adjusted restrainedly against Friday - Ester Holdings

State of the market : the market is adjusted restrainedly against Friday

With the opening of trading on Monday, there is a subdued correction in the market against the Friday movement. This is caused by the technical correction of the American dollar against the Friday decline. The main driver of the market, as well as trading on Friday, continues to be the optimism of stock markets in the progress of the US-China trade talks, namely easing the US requirements for China to reduce government industrial subsidies, which were the main criteria for trade agreements.

Additional pressure on the US dollar comes from the comments of the US President D. Trump, who on Sunday said that the Fed slowed the growth of the US economy and should return to the stimulus measures of the crisis from 2007 to 2009.

The US dollar index reacted to these negative factors with a moderate decline, remaining above key support at 96.80, maintaining a downward trend and limited to resistance at 97.00. Further weakening of the US dollar index is limited by general oversold and support levels: 96.80 and 96.60.


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Hanzenko Anton


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