State of the market : negative sentiments return to the market
Once again, the US President D. Trump criticized the Fed and China, whose monetary policy is aimed at depreciating the national currency and gives China an advantage. He spoke about the fact that the Central Bank of China devaluates its currency, fully submitting to the Chinese government. While the US Fed behaves too independently.
Amid worsening comments by the Fed and China from Trump, negative sentiment on the market has escalated sharply, given the fact that the possibility of a worsening of the US-Chinese trade war remains significant. The US president is determined to put pressure on the Fed. Significantly increased fears of a new round of trade opposition and increasing pressure on the US Federal Reserve.
From the start of the day, the US dollar index has been trading with restraint, maintaining a downward trend and limited to the support level of 96.70, indicating attempts to resume the decline and the possibility of the support levels test: 96.50 and 96.30.
Read also: “In Focus: Analysis of transactions for a EUR/USD pair during the week”
Hanzenko Anton
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