State of the Market: the market is inactive

On Monday, trades on major currencies remain very low-key due to low market activity. After Friday’s weekend the activity on the market remains low. Also today, European sites are closed due to the celebration of Bright Monday. Therefore, the growth of activity in the market should be expected closer to the American session.

With the opening of the American session, the growth of negative sentiment is possible, which is caused by the introduction of Chinese duties on American goods in response to US duties on steel and aluminum from China. At the same time, this movement is already partially taken into account by the market and, probably, will be very restrained.

The US dollar index keeps a sideways trend on low market activity. As a result, the index came out of the uptrend, which in the end may indicate a correction. In this case, the trading range of March remains in force.

Graph of the US dollar index. The current price is 90.00.

Hanzenko Anton