State of the market: the week opens with increasing pessimism

With the opening of the new trading week, a pessimism increased in the market. The main source of pessimism are the stock indices of the Asia-Pacific region, which opened the week with a significant decline in stock indices. The reason for the negative start of stock indices from the beginning of the day was the preservation of pessimism after Friday’s growth of the dollar on employment data and the persistence of uncertainty regarding trade negotiations and market conditions.

The index of the US dollar from the start of the week is trading under the pressure of the correction against Friday. The main decline of the American dollar can be traced against safe assets, due to the growth of pessimistic moods. The dollar index opened the week below 97.30, which is a significant resistance. Significant support is located at the levels: 97.00 and 96.90, which will limit the technical correction against Friday.

Read also: “Expectations from the NZD/USD pair at  year’s end”

Hanzenko Anton

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