State of the market: trade tension intensifies - Ester Holdings

State of the market: trade tension intensifies

Pessimistic sentiment in the market intensified with the opening of the trading week. In addition to maintaining the risks of the aggravation of the trade war that persisted on Friday, a new week opened with data from China, which stopped importing agricultural products from the United States and lowered the value of the renminbi against world currencies. Such a decision was in fact China’s response to the new US trade duties. This will also affect the market in general, increasing the demand for safe assets.

The US dollar index with the opening of trading on Monday accelerated the decline on risks, actually opening at 98.00, indicating a continued downward trend. The main driver of the decline of the American dollar and the market as a whole remain the risks of a trade war. Significant support is located at: 97.80 and 97.50, resistance: 98.00 and 98.20.


Read also: “Financial quarter correction”

Hanzenko Anton


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