State of the market: the euro has receded from the lows - Ester Holdings

State of the market: the euro has receded from the lows

On Tuesday, most of the major currency pairs are trading with restraint or with a strengthening against the US dollar, which is caused by a decrease in the tension around the Turkish lira.

The market shows an increase in optimism after yesterday’s low-key correction of the US dollar on risk reduction. The reason for this movement was the actions of the Turkish authorities to stabilize the national currency. Also, support for optimistic sentiment in the market was provided by data on easing  US and China trade tension.

A deterrent for the market was negative data on production in China and the preservation of risks on emerging markets. At the beginning of the day, the Asia-Pacific stock exchanges are mostly traded above zero, indicating that there is an increase in optimism in the market, but limited to the possibility of resuming risks.

The US dollar index since the beginning of the day is trading in the established range from 96.50 to 96.20, correcting after growth and remaining in the correction phase. With the positive opening of the European stock indices, we should expect an increase in pressure on the dollar, which can trigger a test of support levels of 96.00 and 95.80.


 

Read also: “Fundamental Analysis: Influence of GDP Indicators on World Currencies”

Hanzenko Anton

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

Topical articles of the trader’s blog:

  1. Emerging markets and their prospects: Chinese yuan (CNH or CNY)
  2. Stock indices: the Japanese market
  3. Emerging markets and their prospects: Turkish lira (TRY)

Current Investment ideas:

  1. Preparing to have profits on an optimistic report of Alcoa Inc.!
  2. On weak reporting of Boeing shares we can get a strong income!

 

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