Outlook for the week: American in the phase of correction

After a wave of recovery in stock markets over the past week, the market continues to optimistically expect further growth in stock indices. As a result, the assets of the safe haven remain under pressure. Thus, concerns about stock indices almost completely stopped affecting the market. But on the horizon there is a new threat to the world economy, namely the aggravation of trade relations between the US and China, but this time the conflict can expand to the eurozone. While these fears remain at the level of statements and warning shots in the air, but commodity assets have already weakened, pulling the commodity currencies.

In addition to the situation with trade relations, the week is full of statistics on the UK. (Economic calendar). Also, the market continues to monitor the dynamics of the US currency, which, after the renewal of multi-year lows, went into the correction phase, but still maintains a general downward trend, which eventually can lead to the formation of a downward triangle.

Graph of the US dollar index D1. The current price is 89.00.

Hanzenko Anton