The market is in the power of stock exchanges - Ester Holdings

The market is in the power of stock exchanges

During the European trading session, the US dollar accelerated growth against major competitors. The reason for the resumption of American dollar growth was the growth of European stock indices, which, in turn, provoked uncertainty around Brexit and the possibility of a tough exit of the UK from the EU.  The head of the British Central Bank Carney has spoken of the possibility of it. Also, the general growth of stock indexes negatively affected the dynamics of the euro, as a result, European currencies have updated the annual minimum against the US dollar.

Under considerable pressure of uncertainty, the British pound remains, which is oversold against the American dollar. At the same time, the main driver of the market is the stock market, which after the growth returned to the red zone. The US dollar index is at the same time overbought and limited by the marks: 95.50 and 95.70.

The US dollar index chart. The current price is 95.40 (10-year government bonds yield is a blue line)

Read also: “Oil market: correction or growth limit?”

Andre Green

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

Topical articles of the trader’s blog:

  1. Emerging markets and their prospects: Turkish lira (TRY)
  2. Stock indices: the UK market
  3. In Focus: Analysis of transactions for a EUR/USD pair during week

Current Investment ideas:

  1. Preparing to have profits on an optimistic report of Alcoa Inc.!
  2. On weak reporting of Boeing shares we can get a strong income!

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