State of the market: the market remains optimistic on low activity

Trading at the opening of a new trading week remains restrained due to low activity and the lack of significant drivers. So, from the start of the day, the market has been restrained by positive moods associated with the preservation of optimism regarding Brexit, which, in turn, exerts a restrained pressure on the US currency. The British pound is trading very restrained, despite the postponement of the vote in the British Parliament on the Brexit deal. Positive sentiment remains in the market regarding this vote, despite Brexit’s expiration date.

The US dollar index at the opening of the week remains under a restrained pressure, limited by oversold and support levels: 97.20 and 97.00. With the rapid growth of the US government bond yields and optimism on stock exchanges, the American dollar will remain under the pressure. The limiting factor is the oversold American dollar and the possibility of forming a correction against a weekly decline.

Read also: “Risks of global economic slowdown are escalating”

Hanzenko Anton

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

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