Equity markets strengthened after volatile week, USD depreciates
After an extremely volatile week, the situation on the Asian stock markets normalized, traders adjust positions ahead of the Fed meeting of the Operations Committee on the open market next week. Indexes in mainland China this morning traded in the red zone, but the Shanghai Composite can finish the week higher, despite the fact that for Monday and Tuesday lost nearly 5%. On Friday, the index gained 0.43%. Shenzhen Composite fell by 1.06%. People’s Bank of China lowered the official exchange rate of USD / CNY from 6.3772 to 6.3719, and a member of the NSC Huang Yiping said the Board of the World Economic Forum in Dalian that “a significant devaluation of the (yuan) is excluded,” and added that “our main objective now – to stabilize the economy. ” Further devaluation of the yuan is unlikely, because Beijing has room for maneuver, and to stimulate the economy by means of standard monetary policy measures, such as regulating mandatory reserve rules and lowering interest rates.
EUR / USD continues to rise, the pair consolidated overcome resistance at the level 1.1262 (50% Fibonacci retracement of the decline in the July-August), indicating that the expression “bull” trend in the short term. Above the graph, immediate resistance lies at 1.1368 (38.2% Fibonacci retracement), followed by resistance at around 1.1714 (the high of August 24). Below the graph previous resistance at around 1.1155 (61.8% Fibonacci correction) was transformed into the support.
China surprised the markets: a record held for 20 years , the devaluation of the yuan On Tuesday morning, the People’s Bank of China announced the yuan…
The US dollar strengthened against other major currencies On Monday night the dollar continued to rise against the major world currencies – it maintain…
EUR / USD: The dollar strengthened against the euro in anticipation of new data On Monday morning, Dollar shows the growth of the euro – Investors are…