State of the market: the market is waiting for the data from the ECB and FOMC - Ester Holdings

State of the market: the market is waiting for the data from the ECB and FOMC

With the opening of trading on Wednesday a restrained multidirectional dynamics is tracked on the main currency pairs associated with waiting for the ECB meeting results and the publication of the FOMC protocol, which will be released today. Stock indices in the Asia-Pacific region are also very restrained and move without a single direction, on the growing risk of worsening world trade relations and correction after a decline.

From the start of the day, the Australian dollar has become an exception to the moderate dynamics of currency pairs, which received support from the speech of the RBA Deputy Head Debelle, who spoke very optimistically about the Australian labor market, supporting the Australian dollar. Further strengthening of this currency is limited by the restraint of the market in front of the news.

Since the beginning of the day, the US dollar index has been trading near the opening of the day after a low level correction at the close of Tuesday. Under conditions of uncertainty and the preservation of the existing dynamics, the American dollar continues to maintain the potential for decline, limiting itself to the upcoming news. Resistance levels are: 97.00 and 97.20, support: 96.80 and 96.60.


Read also: “Emerging markets and their prospects: Mexican peso (MXN)”

Hanzenko Anton


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