State of the market: the market remains restrained, despite loud statements

With the opening of the new working week, a number of significant announcements were made on the market. At the same time, the general dynamics of the main currencies are very restrained. The exceptions are the currencies of Australia and New Zealand, which received support from the favorable results of the elections in Australia. Optimistic data is over.

At the start of the day, there were comments by the US President D. Trump regarding the armed conflicts in the Middle East. Trump said that if Iran wants war, then it will be the end for Iran. Such a statement greatly increased the demand for oil, which since the beginning of the day has added more than 1% to the price.

Also at the beginning of the day, it became known that Google is blocking Huawei’s access to Android updates. This actually means a complete restriction of the use of the mobile operating system on Huawei smartphones. Such a decision is associated with the inclusion of the Chinese company Huawei in the black list, which, in turn, is a continuation of the US-Chinese trade war.

From the start of the day, the US dollar index has been trading very restrained, near the highs of the current month, actually being limited to overbought after Friday’s growth, but maintaining an upward trend in keeping risks. Significant resistance for the American dollar are the marks: 98.10 and 98.20, support: 97.90 and 97.80.

Read also: “Crypto currency – its main purpose and the reasons for its creation”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Expectations from the AUD/USD pair for May
2. Escalation of the US-China trade war and what it means for the market
3. Skills each investor must develop

Current Investment ideas:

1. Hewlett-Packard shares are ready to close the gap, and we are ready to close the profits!
2. Several reasons to buy Walmart shares. Use the chance to earn!