The main market’s drivers
After a moderate growth of optimism at the start of the day, negative moods gradually returned to the market. As a result, pressure on European stock markets and risky assets resumed.
The reason for the resumption of pessimism was the speech of the US President D. Trump, who once again criticized the US Federal Reserve, accusing them of cowardice to admit mistakes and lower interest rates. Another reason for the growth of pessimism was the data on the dynamics of stocks on the Wall Street premarket, which show a predominant decline.
The US dollar index on the growth of negative sentiment returned to decline, which will cancel expectations for a correction. So far, support has settled at levels: 97.30 and 97.10-00. If this support persists, a flat formation is expected in the range of 97.00-80.
Fig. The US dollar index chart. Current price – 97.40 (10-year US government bonds yield – blue line)
Read also: “Geopolitical risks for the beginning of 2019! (Part 2)”
Andre Green
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