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Equity market pressure remains

During the correctional growth of the American market, when the SP 500 index reached 2800 points, the growth of the American equities slowed down, and the second half of the last trading week was influenced by negative sentiment. The new trading week begins with pressure for global stock markets, as Europe markets are under strong pressure, futures for US indices are also in the red.

The previous trading week turned out to be very informative and rich in mid-term fundamental drivers. The Fed meeting passed without surprises — the market expects further rate-hikes, but the question now is three or four times the regulator will raise the rate in 2019. The situation with Italy budget remains in limbo, and the global event of November is likely to be the G-20 summit in Argentina, at which the meeting of the leaders of the United States and China on the trade agreement is to take place.

On FOREX, the main headline is the continuing growth of the US dollar. The dollar index today has updated highs since June 2017. Other interesting news is EUR / USD final drop below 1.1300 as the large-scale triggering of stop orders sent quotes in area of 1.1240.

Brexit problems and the heightened conflict between Rome and Brussels significantly intensified the actions of Euro sellers. The Sunday Times publication on the eve reported that the EU rejected the UK proposal for Brexit, which is a strong negative factor not only for the British currency, but also for the Euro.

Today in Europe and the United States no important economic news are ecpected, so the overall situation and the global trend in the market are unlikely to undergo major changes.

The previous trading week turned out to be very informative and rich in mid-term fundamental drivers. The Fed meeting passed without surprises — the market expects further rate-hikes, but the question now is three or four times the regulator will raise the rate in 2019. The situation with Italy budget remains in limbo, and the global event of November is likely to be the G-20 summit in Argentina, at which the meeting of the leaders of the United States and China on the trade agreement is to take place.

On FOREX, the main headline is the continuing growth of the US dollar. The dollar index today has updated highs since June 2017. Other interesting news is EUR / USD final drop below 1.1300 as the large-scale triggering of stop orders sent quotes in area of 1.1240.

Brexit problems and the heightened conflict between Rome and Brussels significantly intensified the actions of Euro sellers. The Sunday Times publication on the eve reported that the EU rejected the UK proposal for Brexit, which is a strong negative factor not only for the British currency, but also for the Euro.

Today in Europe and the United States no important economic news are ecpected, so the overall situation and the global trend in the market are unlikely to undergo major changes.

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2019-07-30 09:15:29

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