State of the Market: the market is pending

Trades in the Asian session are very restrained, which is due to the market’s restraint dynamics before the upcoming data. So, from the beginning of the day, the US dollar weakened slightly against the basket of major currencies on correction after growth and inability to break through significant resistance. The market also awaits the speech of Fed Chairman Powell, who will speak for the first time in this post.

On the stock exchanges is also not all so unambiguously. After the positive closing of trading on Wall Street, trading on Asian sites are very restrained, trading significantly below zero. The exception was the Japanese index, which closed with growth. At the same time, with a negative opening of Europe’s  exchanges, one should expect a further escape from risks.

The US dollar index, despite the very high probability of raising rates in the US, is squeezed in a downward trend, expecting data on the US and Powell’s speech.

Graph of the US dollar index. The current price is 89.70.

Hanzenko Anton