State of the market : the market is very restrained at the start of the day

At the opening of trading on Friday, stock indices in the Asia-Pacific region maintained a negative mood in the negative mood of American stock indices. The dynamics of stock indices since the beginning of the day remains negative, but very restrained. This may further indicate attempts to correct and renew optimism during the day.

Major currency pairs are trading with a strengthening against the US dollar, which remains under the pressure after yesterday’s collapse. The driver for the decline in the American dollat  was weak US data and aggravation of market concerns regarding trade opposition, which greatly affected the US government bonds yield.

The US dollar index on Thursday updated the weekly low at 97.80. But, despite being oversold, it remains under the pressure, testing support 97.70. The next strong support for the American dollar is the level 97.60. Such a rapid decline in the dollar is associated with the risks of trade confrontation.

Read also: “Trend and the advantages of its understanding”

Hanzenko Anton

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