State of the market: the dollar remains under the pressure

Trading on Tuesday opened by maintaining pessimistic sentiment on the stock exchanges. Thus, the main stock indices in the Asia-Pacific region show a decline mostly after the restrained negative closing of trading on Wall Street. The main factor for the growth of pessimism is the Chinese indices, which ignored the positive inflation data in China. Given the general slowdown in pessimism, pressure on the US dollar is not ruled out.

From the start of the day, the US dollar index has remained under the pressure on the rebound from the level of 98.50. With the resumption of optimism in the market, the pressure on the dollar will intensify, which will confirm the downward trend for the American dollar. The main decline in the US dollar is expected against commodity currencies. Significant support for the dollar index are the marks: 98.20 and 98.00. Resistance is located at levels: 98.50 and 98.70.

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Hanzenko Anton

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