State of the market: sentiments remain the main driver of the market

From the start of Friday trades, the market has seen an increase in negative sentiment. Despite the positive data on the trade balance of China, which were supposed to strengthen optimism, an increase in pessimism can be seen on the stock exchanges. This is due to a technical correction after growth and the meeting of a wave of resistance in the US Senate regarding the weakening of trade duties by China. Against this background, positive expectations regarding the trade deal between the United States and China have noticeably weakened.

Amid growing trade uncertainty, the US dollar index slowed down near resistance 98.20, maintaining upward dynamics, but limiting itself to overbought and attempts of correction. Against the background of renewed optimism on trade talks, a test of resistance levels is expected: 98.30 and 98.50. Support is located at levels: 98.00 and 97.80.

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Hanzenko Anton

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