State of the market: trading in the European session is not unambiguous

Trades during the European session remain highly ambiguous, as there is no clear dynamics in the market. European currencies, the euro and the pound demonstrate multidirectional dynamics relative to the American, which is caused by the preservation of risks regarding Brexit. At the same time, safe harbor and commodity currencies are trading at the opening day level. This caused by the negative dynamics of global stock exchanges, which remain under pressure of uncertainty caused by problems related to the promotion of the tax bill in the United States.

Under these conditions, the US dollar index has changed little since the beginning of the day, remaining below the level of 93.500 and retaining some weakness on the data on tax reform in the US.

Graph of the US dollar index. The current price is 93.450.

Hanzenko Anton