State of the market: dollar recovers against Friday’s decline

The US currency shows a restrained upward trend against a basket of competitors at the opening of Monday trading after Friday’s decline on the ambiguous US employment data in September. The movement against Friday is also indicated by the persistence of risks on the stock exchanges in the Asia-Pacific region, which are traded downward following the negative closure on Wall Street.

The Central Bank of China reduced reserve requirements, indicating that concerns and risks about the US-China trade confrontation were preserved. It reduced financing costs caused by the trade war with the United States.

As a result, the US dollar index shows restrained growth on fears, thereby forming a movement against Friday and being limited to a downward corrective movement, but receiving support from the levels of 95.70 and 95.50. Resistance marks are: 95.90-96.00 and 96.30.

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Hanzenko Anton

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