State of the market: the US dollar is growing moderately against the main competitors
On Monday trading the US currency shows restrained growth against the basket of major competitors, keeping general positive mood for the American dollar, but limited to overbought and resistance levels: 95.30 and 95.50. The key support continues to be psychology 95.00.
Stock markets at the start of the day retain a restrained positive dynamics on the mixed market from Wall Street and weak statistics on business activity in the manufacturing sector of China, that continues to maintain a downward trend, confirming the growing risks on the market.
Also at the start of the day, rumors appeared on the market that the US-Canada Trade Agreement (NAFTA) would be signed today. Official comments have not yet followed, but the USD/CAD pair opened the week with a price gap and is trading below 1.2850, indicating a significant increase in optimism on the Canadian currency, that is limited by oversold and psychology 1.2800.
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Hanzenko Anton
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