State of the market: the dollar remains under pressure

Since the start of trading on Friday the US dollar remains near significant support 94.50 against the basket of major competitors. Pressure on the dollar is maintained by the positive dynamics of the stock indices of the Asia-Pacific region, that increased with data on Chinese industrial production growth. Also, the pressure on the dollar comes from the data that the US is ready for the second round of talks with China. This caused a wave of optimism in anticipation of stabilization of China and the United States trade relation.

The US dollar index remains to trade with a decline near the support of 94.50 after a decline on weak US data and an increase in optimism relative to the euro. As a result, the American dollar is oversold against the basket of competitors and forms a steady downward trend.

Read also: “Stock indices of America: Canada, Mexico and Brazil”

Hanzenko Anton

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

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