Weekly reviews

Positive sentiment intensifies; markets are waiting for comments of the new FED head

On Tuesday, USD dollar is making attempts to restore part of its previously lost positions. The reason for the strengthening of the US dollar is likely to be the profit fixation before today's speech by Powell in the US Senate. USD / JPY currency pair corrected from the local minimum JPY110.83 to the level of JPY111.35, the European currency also moved to correction and declined to the area of ​​the first support around 1.1875-1.1800. The British pound is also traded under pressure. The pair USD / GBP could not gain a foothold above the resistance level 1.3300 and pulls lower. At the start of US trading, the pair USD / GPB is trading around 1.3281.

Meanwhile Brexit's negotiations can become even more difficult if the difficulties of the Irish government continue to worsen. If new elections are called for, they are likely to be held next month, and during this time, there will be little room for compromise with the UK, which in this context means continuing Brexit talks only with just the promise of an open border with Northern Ireland.

In the United States, a hearing begins in the Senate with a vote on Powell's candidacy and his subsequent speech. His prepared statement stressed the continuity that his candidature represents. He approved a gradual increase in interest rates and a reduction in the balance of the Fed. Although he is open for improving post-crisis regulation, and approved the provisions on capital and liquidity, stress tests. Powell also defended the institutional structure of the broad focus of the Federal Reserve.

Today, the stock markets are trading positively after a weak start of the session; European indices strengthened by an average of half a percent, futures for US indices are also in the green, anticipating a positive start to the Wall-Street trade.

The Brent oil market stopped the upward movement at levels of $ 63.90, not far from a local maximum of $ 64.28 a short distance. The proximity of the decisive meeting of OPEC does not allow developing negative sentiments. Today, in the focus of statistics on oil and petroleum products from the API, tomorrow - data from the US Energy Ministry and the meeting of the OPEC Committee. Support for the oil market is at levels of $ 63.15