Fundamental analytics

Equity markets under strong pressure as trade risks eyed

EURUSD

On Monday and Tuesday, US market index S & P 500 traded higher to open lower on Wednesday. Despite the fact that the S & P 500 has set its best close level since February, it stalled before the resistance of 2800 points, it is characteristic that this level did not let the market higher already twice in March and June.

Separately, MSCI Asia Pacific Index also significantly decreased today amid general deterioration of the market sentiment. Among the individual markets, Nikkei, Kospi, and Shanghai Composite were falling more strongly. In Europe, German, French, Italian and Spanish stock exchanges are traded under pressure.

In the FOREX currency market, US dollar today is traded volatile. The dollar index made an attempt to consolidate up from the zone of 93.80 points, but met unexpectedly strong resistance in the area of ​​94.18 and pushed lower to bounce off once again. As a result, EUR / USD remained above $ 1.1720, an important support level. In addition, the European currency was supported by rumors that European financial officials are considering an earlier date for raising the interest rate.

Despite the negative news background and avoidance of risk, gold is traded under pressure as well. Today, price dropped into the $ 1247 zone, breaking through the support of $ 1,250- $ 1253. There is a kind of demand zone somewhere in this area.