State of the market: positive sentiment remains in the market

With the opening of trading on Thursday, the market shows an increase in positive sentiment. It is due to the strengthening of stock indices in the Asia-Pacific region and a decrease in demand for safe haven currencies. So, from the start of the day, gold, the Japanese yen and the Swiss franc remain under the pressure. The reason for this was the statement of China on the meeting of representatives of the United States and China in early October in order to discuss trade conditions.

A significant support was given to the US government bonds amid growing positive sentiment, which also supported the US dollar. In recent days, the dynamics of the US dollar index has remained downward, limited to oversold. Amid the reduction in trade risks, a slowdown in the decline of the US dollar is expected against a basket of competitors. Significant support has shifted to the levels: 98.40 and 98.20. Resistance is located at 98.60 and 98.80.

Read also: “Should we expect the currency intervention from the Bank of Japan”

Hanzenko Anton

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