State of the market: positive sentiment returns to the market
A moderate growth of optimism can be traced in the foreign exchange market with the opening of trading on Wednesday. The reason for this was the positive closure of trading on Wall Street and restrained positive inflation data in China, which were published at the start of the day. The data on producer price indices fully coincided with forecasts, which confirmed keeping the upward dynamics of this indicator.
With the growth of positive sentiment, the upward dynamics of the US dollar against the basket of competitors slowed down. Thus, the US dollar index is trading near 97.50, maintaining an upward trend. Further strengthening of stock indices in Europe may strengthen the correction for the American dollar and cause a technical correction to the support levels: 97.30 and 97.10.
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Hanzenko Anton
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