The main market’s drivers

After the optimistic start of trading at the beginning of the day, optimism began to decline closer to the American session. The main driver of the market and the US currency was the expectations of the US and China trade relations, which again came to the fore after a long period of calm. Earlier, there were rumors in the market about the possibility of a trade deal between the two largest economies in the world, but after that the market returned to skepticism and the possibility of new tariffs from the United States.

As a result, the US dollar index has updated a high against the basket of major competitors at 97.30 and moved to a decrease in the correction, which caused an increase in market pessimism. At the same time, the upward dynamics in the dollar is maintained, despite the correction. The main support zone is located in the range of 97.00-96.90, resistance: 97.20-30.

The US dollar index chart. The current price is 97.20 (10-year state bonds yield is the blue line)

Read also: “Chicago Board Options Exchange (abbr. CBOE)”

Andre Green

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

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