State of the market: the US dollar returns to decline
The US dollar index resumed its decline against the background of a very positive dynamics of stock indices in the Asia-Pacific region, that received support from the positive closing of trading on Wall Street. It was also caused by fact that China is ready to return to the negotiating table in the United States.
General increase in optimism in the market is also caused by the continued downtrend in the American dollar and a shift in investor attention to the Brexit situation. After the text was approved by an agreement between the EU and the UK, a number of UK officials resigned. It provoked a growing political crisis in the UK and a weakening of the May parliament. Earlier it was reported that Brexit negotiations will resume on Sunday.
From the start of the day the US dollar index has remained under pressure from a downtrend, limiting itself to the support level of 96.80, breaking through which will open the way to the level of 96.50-60. Resistance is located at levels: 97.00 and 97.20.
Read also: “The US Federal Reserve System (Fed) and prospects for further tightening of monetary policy”
Hanzenko Anton
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