State of the market: pessimism returns to the market

Friday’s trading opened with mixed data on China and the growth of pessimism on the stock exchanges in the Asia-Pacific region. After the publication of weak data on China’s GDP, indicating a slowdown in the DPRK economy, industrial production and employment seemed very positive. The market preferred to focus on the negative side of the report, putting pressure on Chinese stock indices.

In general, the market has remained restrained from the start of the day, limiting itself to attempts of correction the US dollar after the decline and the growth of negative sentiment. The US dollar index retreated from the recent low of 97.50, but remains under the pressure. A further decline in the American dollar remains difficult due to its overselling, which may cause a restrained correction to the resistance levels: 97.08 and 98.00. Pessimistic market sentiment in this case is a limiting factor.

Read also: “US Trade Confrontation.
What are the risks? ”

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. What to expect from the Bank of England in the face of a tough Brexit
2. The results of the US-China trade talks
3. Cloudy prospects for the  oil market 

Current Investment ideas:

1. One more opportunity to earn in October! Sell ​​#CAT shares now!
2. Several reasons to buy Cisco Systems, Inc. shares in October. Let’s earn Together!
3. Technology giant Microsoft is getting ready to storm new highs! Let’s make money on it!