State of the market : market is waiting for data from the US midterm elections

Trading on Tuesday opened very restrained after the US dollar resumed its decline at the start of the week. The reason for the weakening of the American dollar was the renewed optimism in the market and, as a consequence, the growth in demand for risky assets. At the trades on Tuesday there is a restrained dynamics of the US dollar and the market in general, due to the expectation of mid-term elections in the US, which will be held today. These elections carry significant political risks for the dollar, so there may be rises of volatility in the data on US elections.

The US dollar index trades with a downward trend, limited to the Friday trading range, but due to political risks may accelerate the decline. Significant support settled at levels: 96.30-20 and 96.00, resistance: 96.50 and 96.70-80.

Read also: “Fundamental Analysis: Inflation and the Impact of its Indicators on World Currencies”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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