flag-gb flag-my flag-zh flag-id flag-th flag-vi

Negative start of Wall-Street trades, dollar under weak pressure

New trading week starts unusually quiet. Does this mean that this week we can see an increase in volatility and this a kind of storm that is close? Let's see how events will develop. Today, the foreign exchange market held around Friday levels in European session. We recall that on Friday, USD dollar adjusted somewhat, as the dollar index pulled away from the annual highs. The beginning of the US trading session caught the US dollar index around 96.15 points, it is interesting enough that the market did not make even the minimum attempt to correct upward, but continued to decline. On this background, the European currency slowly updated weekly highs, despite the expected decline and correction to the 1.1370 zone, the euro continued to move up and tested the level 1.1430.

In general, the news background that has developed in the markets can not be called positive. The weekend showed that the main market theme of recent days, it’s the main global risk, is also far from being resolved. Frankly speaking, the weekend showed that the Americans and the Chinese could not even come to a joint statement on the current situation, the ATEC Council showed the failure of the joint statement due to disagreements between the US and China. In the relationship of the situation with Brexit, no much progress has also been made over the weekend. Futures on US markets are trading in the red, anticipating the negative Wall Street start. Europe is also trading under strong pressure.

Oil remains under strong pressure amid continuing risks of oversupply in the market over the medium term. Oil prices have been falling for the sixth week and still remain committed to continuing this trend. As a result of last week, the oil market sank more than 4.8%. The production growth and the prospects for a significant reduction in the level of demand scare investors and force them to reduce the number of long oil positions.

OPEC representatives officially announced that the cartel intends to consider reducing the level of production in 2019 in order to prevent an imbalance in the oil market. This week, traders will continue to closely monitor statistics from the United States. On Tuesday, a report from API on reserves will be presented, and on Wednesday, traders will be able to compare them with data from the US Department of Energy, as well as assess the dynamics of the level of average daily production in the US.

Latest news

+$500 for trading

2020-09-29 08:00:46

+$500 FOR TRADING Trade and receive real money for each 10th completed lot USE THE BONUS AND GET THE FOLLOWING BENEFITS: Unlimited withdrawal Compatible with Megaprotect and Deposit Bonus Available for cents and swap-free accounts HOW TO GET BONUS? To have a valid trading account To maintain the minimum account balance of 100 USD Keep trading and receive […]

Share posts and earn money

2020-09-16 08:29:16

We are launching the long-awaited rewards program for all subscribers of our social networks – share posts with your friends and get money on your FortFS account as a reward! 🥇 The participants will get the following benefits: • Real money for reposts • The reward is available for withdrawal without restrictions • You can […]