The main market’s drivers
Trading on Monday remain very restrained on the mixed dynamics of European stock exchanges and reduced activity due to a weekend in the US and Canada. The exception is the British pound, that has been weakening from the start of the day across the market. Driver for the decline of the British pound was criticism of the plan of British Prime Minister Mae on Britain’s withdrawal from the EU. As a result, the pound returns to weekly lows against major competitors.
The dollar index against the basket of competitors continues to trade at the opening day, correcting after Friday’s growth, but is limited to the side range from 95.00 to 95.20-30. It is also worth noting that, with a decline in activity and with the closure of the European session, an unjustified increase in volatility in low liquidity is possible.
The US dollar index chart. The current price is 95.10 (10-year government bonds yield is a blue line)
Read also: “Expanding Triangle – Once again about the Main”
Andre Green
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Norwegian Krone. Features of trading Scandinavian currencies
- Stock indices of America: Canada, Mexico and Brazil
- Trade balance influence on the country’s economy
Current Investment ideas: