On Tuesday, US markets continued losing the ground as indexes failed to form a corrective upward pullback to a decline in the previous days. Yesterday markets fell by 1.7% -2%, amid negative sentiment. In general, in the first half of the week, negative sentiment continued to prevail in global stock markets. On Tuesday US main equity index SP 500 fell below the mark 2640 points, approaching a five-week minimum. Today on Wednesday, Asian markets could not change this tendency, and closed the day in negative territory, with the exception of the Japanese Nikkei index, which added 1.6%. However, in European trading session, the technical situation has changed somewhat. European markets have moved into the green and are showing growth within half a percent. Futures on US indices are also growing, showing growth in the range of half a percent. Looks like this pullback has a technical nature as no evident positive fundamental has appeared so far.
In the middle of the week the global markets continue to focus on US-China trade issues. Yesterday, United States trade representative again accused the Chinese of using «predatory» trade practices. The second reason for the equity weakness is the fear of a slowdown in the growth of profits of American companies.
On the FOREX market, Wednesday trading session began with the weakening of the US dollar after a significant gain on Tuesday. Yesterday, the dollar index found support in the zone of 96 points and was able to strengthen in the area of 96.77. It is likely that in the coming trading days we will see a range of trading on the dollar index. This is a wide area 96-96.85. Today is the last full trading day in the markets, and secondly, next week will also be rather consolidative and restrained amid approaching G-20 summit. Today a large amount of American data is entering the market. Taking into account the close weekend and statistics today, we expect an increase in volatility in the US trading session.
Only from November 02nd, 2020, to January 04th, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]
Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! 🏆 Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts 📍 How to get the bonus: 1) Register an […]