The main market’s drivers
Friday’s European session remains in power of negative sentiment after it became known that the leaders of the United States and China will meet only in early March, effectively postponing negotiations on trade relations at the highest level after the possibility of conducting new trade duties. As a result, European stock indices are trading under pressure, and the US currency has slowed growth on overbought and risks. Gold received little support against the background of general risks, but it is also limited by downward dynamics.
The US dollar index in trading on Friday slowed growth on overbought after almost a week of strengthening, having met with significant resistance at 96.70, from which a restrained correction can be traced, reinforced by a reduction in long positions on the American dollar at the end of the week. Significant support levels: 96.40 and 96.20.
The US dollar index chart. The current price is 96.50 (10-year government bonds yield is the blue line)
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Andre Green
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