The main market’s drivers

General dynamics of the market remains very restrained. Flat formations can be traced both on most major currency pairs, and stock indices and commodity assets. Against the background of a very restrained market dynamics, the British pound stands out, which accelerated growth against its main competitors. Strengthening the pound contributes to the collapse of the UK stock indices, due to the situation with Brexit.

The main limiting factor for the market is the expectation of data for the United States: GDP and the speech of the Fed Chairman, which will take place today. The dynamics of the US dollar index remains upward, limited by the side channel from 97.50 to 97.30. Significant support settled at levels: 97.20 and 97.00, resistance are: 97.50 and 97.70-80.

The US dollar index chart. The current price is 97.40 (10-year government bonds  yield is the blue line)

Read also: “Australian Stock Exchange. ASX Indices

Andre Green

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

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