The main market drivers

Wednesday trades remain very restrained, despite a marked increase in optimism and bulk of news. So, in the morning there was data that China would tighten the conditions for granting visas for the US citizens. Which will have a negative impact on market expectations before the US – China trade talks. Later there was information that China would reduce partially its blacklist. It weakened the negative market sentiment. This market reaction indicates the importance of the US-China trade negotiations. And any data on this issue will be evaluated by the market very sharply.

From the start of the day, the US dollar index remains under the pressure of correction after yesterday’s growth, but it maintains an upward trend, limited by support levels: 98.90-80.

Fig. US dollar index chart. Current price – 99.00 (10-year US government bonds yield – blue line)

Read also: “Expectations from the July Fed meeting”

Andre Green

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