State of the market: optimism returns to the market
Trades at the Asia-Pacific session on Tuesday opened with the rapid growth of stock indices, which was caused by a noticeable strengthening of the Chinese renminbi against the US dollar. Despite the very weak macroeconomic indicators of China, the yuan demonstrates a significant growth at the beginning of the day, which has provoked an increase in optimism on Asian stock markets, and this is with a restrained-negative closing of trading on Wall Street.
The stock exchanges in Europe are also expected to open with growth against the background of the growth of stock indices in the Asia-Pacific region. It will bring investors back to risky assets and increase pressure on the American dollar, that remains under the pressure from political risks in the United States.
From the start of the day, the US dollar index has been trading downward on the growth of optimism, continuing to trade in the upward trading channel, limited to levels: 95.50, the lower limit of the trading channel, and 95.30.
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Hanzenko Anton
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