State of the market : the dollar is under pressure of correction

At the opening of trading on Thursday, stock indices in the Asia-Pacific region are traded mostly below zero after a very long increase in stock indices. Despite the positive statistics on China’s trade balance, stock markets were under pressure of correction and fixing positions before a meeting of representatives of the United States and China, who would discuss trade agreements.

At the beginning of the day, Japan’s GDP data came out very weak, which increased the pressure on the Japanese yen. At the same time, there is growth in safe assets on the market, caused by an increase in pessimism in stock exchanges.

From the start of the day, the US dollar index has been under pressure of correction after yesterday’s growth, as a result of which the high at the level of 97.20 was updated. In turn, the American dollar continues to maintain an upward trend, despite the expansion of the trade channel and slowing growth. The dollar remains in the correction phase, limited to support levels: 97.00 and 96.80-70, resistance: 97.20 and 97.50.

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Hanzenko Anton

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