State of the market: the American dollar remains under pressure, stock indices tries to recover
At Friday trades, Asian-Pacific stock indices are trading above zero, adjusting after a two-day collapse, which was caused by concerns about the US-China trade opposition and the risks associated with the US Federal Reserve rate hikes. The reason for the restoration of stock indices in the Asia-Pacific region was very optimistic data on China’s trade balance, which, in turn, caused a decrease in fears about the consequences of a trade war. As a result, there is a noticeable increase in optimism on the market, which is likely to be transmitted to European stock exchanges.
The US dollar is trading very restrained against a basket of major competitors. Demonstrating restrained growth against safe-harbor assets on rising optimism. The US dollar index is trading near the support of 95.00. thereby forming the bottom. The American dollar is likely to receive support against the background of growth in the US state bonds profitability and the growth of stock indices, it will cause a test of resistance 95.30 and 95.50. support settled at levels: 95.00 and 94.80.
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Hanzenko Anton
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