State of the market: market is waiting for the ECB meeting
At the opening of trading on Thursday, the market shows restrained dynamics. Especially European currencies are worth noting, which focused on the results of the ECB meeting. It is expected to lower deposit rates and hints to further stimulate the eurozone economy. Also, at the beginning of the day, the market remains optimistic due to the reduction of the US – China trade tension. Due to the fact that the US President D. Trump announced the postponement of the increase in trade duties from October 1 to October 15. China has returned to the consideration of agricultural products from the United States.
The US dollar index has been restrained from the start of the day, limiting itself to attempts of correction after growth, limiting itself to upcoming data from the ECB meeting. Significant support is located at the levels: 98.50 and 98.20, resistance: 98.80 and 99.00.
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Hanzenko Anton
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