The main market’s drivers
Trading in the stock and commodity markets close in a noticeable plus after almost a week of growth. The reason for such a rapid growth of optimism was the very productive trade negotiations between the US and China in Beijing this week. As a result of these negotiations, the participants managed to reach a number of compromises on key issues. The second round of negotiations will take place next week in Washington, which also reinforces the optimism of the market.
Risk assets continue to be in demand, supporting commodity currencies despite the significant overbought stock markets and attempts of correction positions before the weekend. At the same time, the US dollar index remains limited by lateral dynamics and is affected a little by market sentiment. It ultimately indicates a restrained closing of the week in the lateral range from 97.00-96.90 to 97.40-30.
The US dollar index chart. Current price – 97.20 (10-year government bonds yield – blue line)
Read also: “Analysis of cross-rates in relations to major currency pairs”
Andre Green
Earn with the help of the trade service on the news Erste News!
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