The state of the European market: the US dollar is losing momentum

At the beginning of the European session, the US currency continued to strengthen against most competitors. But, closer to the closure of Asia, the enthusiasm for the dollar slighlty lowered. As a result, European trading was held under the  correction sign against Asia. This is due to the negative dynamics of European stock markets DAX -0.35%, FTSE -0.10%.

The decline of the American is caused by the uncertainty associated with the US tax reform, and the general negative sentiment of the market, which increased the pressure on commodity currencies. The neutral start of Wall-Street can slightly reduce the negative sentiment, but the overall dynamics of the market will remain very limited.

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Hanzenko Anton