State of the market: the market is dependent on data
From the start of the day, trading restraint has been violated by published data on Japan and pessimism in the UK. So, at the beginning of the day, the Bank of Japan meeting results were published, that left monetary policy unchanged. The market has weakened expectations for stimulating the Japanese economy. The British pound in the absence of new statements has strengthened the decline in the growth of pessimism. After earlier, British Prime Minister B. Johnson announced the possibility of Brexit without a deal.
From the start of the day, the US dollar index has been trading with a strengthening near the resistance level of 98.20, receiving support from the remaining risks, weakening the pound and reducing pessimism about the American dollar. The weakening of pessimism about the American dollar is largely associated with a decrease in the likelihood of a significant decrease in the US Federal Reserve rates this week. The US dollar index continues to be limited by overbought and resistance levels: 98.30 and 98.40, support: 98.00 and 97.90.
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Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
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