State of the market: the market is trading against Friday on exacerbation of the trade opposition

With the opening of trading on Monday, after the US President D. Trump announced his intention to introduce new tariffs on Chinese goods worth $ 200 billion, stock indices and commodity assets came under the pressure. In this way he caused an escalation of the trade confrontation between the USA and China. There were also noted the intentions to extend the increase in duties in the future in the conditions of the conclusion of trade agreements.

Against the background of this statement, the US dollar received a support by going to the correction after Friday’s decline. The actual value of such a step by the United States yet. The likelihood that China will go on about the new requirements is very low.

The US dollar index opened the week with restrained growth, limiting itself to 97.60 resistance. The main strengthening of the American dollar early in the day can be traced against commodity assets in the wake of an escape from risk. The support levels are the marks: 97.50 and 97.40, resistance: 97.70 and 97.80.

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Hanzenko Anton

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