Fundamental analytics

The market continues to consolidate, US election eyed

A cautious market sentiment remains in the markets, although US stock indices have opened in the green. The focus of markets is still upon the global history of the end of 2018, the primary election to the United States Congress.

The political difficulties between the White House and Congress can hamper Trump's large and ambitious plans for economical and politiacl program and raise concerns about political instability.

There are concerns that a sharp sell-off may occur in US equities if Democrats sweep the House and the Senate. On the contrary, stocks can gain in the hope of tax cuts if Republicans retain control of the lower house of the US parliament.

Another driver for the market in recent days are signs of a weakening of China-US trade contradictions. On Tuesday, Vice President of China Wang Zishang said that China is ready to hold discussions and work with the United States to resolve trade disputes.

In the FOREX market, quite trading session was distinguished by the weakness of the American dollar. However, at the start of the US trading session, the situation changed. The dollar moved to local growth. Today there are no statistics on the market, and it is obvious that the market will be traded under the influence of the main fundamental factors.

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