State of the market: optimism around trade negotiations slowed down

Optimism in the stock markets of the Asia-Pacific region declined with the opening of trading on Tuesday, and it was also transmitted to the European markets. The reason for the decrease in optimism was the correction after long-term growth and the growth of skepticism about trade talks. Despite all the encouraging statements about the positiveness of trade negotiations, there is still no specific date for the signing the trade agreement between the US and China, not to mention the details of this agreement.

Also, market restraint is due to the expectation of a speech by Fed Chairman Powell of the Senate Banking Committee. It is expected that the Fed chief will continue to maintain restraint regarding the rate hike, pointing to the position of the Fed wait.

The US dollar index remains very restrained from the start of the day, trading at the level of the opening of the day. The pressure on the American dollar remains from the upcoming speech of Powell. Also it is worth noting the downward trend of the American dollar, which is limited to the support of 96.30. Resistance is located at the levels: 96.50 and 96.70.

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Hanzenko Anton

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