State of the market: optimism continues to grow
With the opening of trading on Tuesday, the market shows a continued growth of optimism due to the trade talks. So, there is evidence that the Trump administration is considering an easing trade duties on China. This is an unconditional incentive to await the conclusion of a trade agreement between the United States and China.
Another reason for maintaining optimism in the market was the meeting results of the Reserve Bank of Australia, which kept key interest rates unchanged and noted the willingness to stimulate if necessary. Australia’s economic indicators remains very positive.
Despite the growth of optimism, the US dollar index on Tuesday in traded on correction after growth, actually returning to the level of 97.50, opening the way to the levels of: 97.40 and 97.30. Resistance for the American dollar marks are: 97.60 and 97.70. In this case, the growth of optimism puts the pressure on the American dollar in favor of more risky assets.
Read also: “Stock indices are ready to renew a historical high”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Upward dynamics of gold, resumption of growth or correction before the decline
- Increased transportation costs: a driver for rising oil prices
- An uncertainty about Brexit is increasing
Current Investment ideas:
- One more opportunity to earn in October! Sell #CAT shares now!
- Several reasons to buy Cisco Systems, Inc. shares in October. Let’s earn Together!
- Technology giant Microsoft is getting ready to storm new highs! Let’s make money on it!