October 7-11. US economy weakens

2019-10-06

Political events associated with the weakening of the US economy are beginning to control market trends. The main one is that the US Congress will begin hearings on the impeachment of the President.
Signs of a weakening US economy and favorable forecasts for the expected events of the end of the week may contribute to a weakening dollar and the growth of other currencies, especially European ones. It is likely that medium-term support and resistance lines will be identified along them. The rollback or breakthrough of these levels depends on the attitude of the European Union towards the “soft” Brexit plan and on the meeting of the Vice Prime Minister of the PRC with White House officials in Washington.

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