State of the market: the US dollar resumes growth
At the start of the day trading on the foreign exchange market is under the mood of correction against yesterday’s movement. The main driver of the market was a positive trading in the Asia-Pacific session, which caused a correction for the US dollar after growth. The reason for the increase in optimism was the technical correction and positive employment data in Australia, which became the driver for the growth of the indices of the Asia-Pacific region.
It is also worth noting that fears around the turmoil of the Turkish lira remain, and the trade opposition between the US and China remains open and awaits continuation.
The US dollar index traded below support for 96.80 on Wednesday, thereby opening the way to the level of 96.50, near which it is traded now. We should expect the correction to continue from the American dollar to support levels of 96.30-20 in the conditions of maintaining the existing sentiments, which indicate the growth of optimism.
Read also: “Canadian Dollar (CAD) – a feature of trading on cross-rates”
Hanzenko Anton
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Topical articles of the trader’s blog:
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- Emerging markets and their prospects: Chinese yuan (CNH or CNY)
- Stock indices: the Japanese market
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