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Equity markets are recovering, USD dollar is developing a technical pullback

US dollar retains a heavy bias against most major currencies, closer to Wall-Street start USD has marked some pullback, but it is obvious that the pullback is technical and local, and the main dollar strength remains. Asian stocks traded mixed today. The information that Apple may cut orders has been ignored by the markets amid the news on the resumption of trade negotiations between China and the United States. On this background, the markets switched to technical recovery and growth, taking advantage of technical oversold conditions. Europe is also showing growth. Oil prices continued to decline and fell to the level of $ 68.50. Oil prices changed lower on Monday after complaints from US President Trump about the decision of the Saudi side to export 500 thousand barrels of oil a day, starting next month. Amid the growth of US dollar, gold dropped to two weekly lows and continues to look vulnerable to further decline. Today two days low was marked in the $ 1196 zone.

Today, Italy will officially respond to the EU requirement to revise the budget. The intrigue in this respect remains, although it ceases to exert strong pressure on the euro. EU seems to believe that negotiations with Great Britain are at a final stage, but Prime Minister May is not quite ready to take a decision. She is still not happy with the EU project. However, the parties expect a breakthrough in negotiations in the next few days to allow a special summit at the end of this month to formalize the agreement. On this background, the British pound is trading steadily. GBP / USD market today moved to growth and strengthened to the zone of 1.2955.

UK labor market report was mixed. The number of applicants increased by 20 thousand, and the unemployment rate rose to 4.1% from 4.0%. Inflation data will be published on Wednesday, and the consumer price index is at 2.5% compared to the same period last year.

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