Breaking News

Global Outlook. Bulls And Bears

By Dmitry TrossForexOct 03, 2017 05:09AM ET
Global Outlook. Bulls And Bears
By Dmitry Tross   |  Oct 03, 2017 05:09AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

In China, it is the mid-autumn holiday and the day of the founding of the PRC. Because of this event, market participants will not receive statistics on the Chinese economy - the markets of China will be closed for an entire week.

The decision of the RBA on the basic interest rate did not provide much of a surprise. In this context, in regards to the Australian dollar, there are no interesting ideas so far, and AUD will move in the general trend of major currencies. Since the beginning of the new month, market participants continue to receive statistical data on business and consumer activity indices - some of these statistics have already been published, while the remaining data is to be expected in the near future.

It is worth recalling that China's PMI in September rose to 52.4, reaching its maximum in five years. The PMI index for the UK construction sector is expected to be above 50, which indicates a favourable situation in the construction sector. The construction sector in the UK, like in other countries, occupies a significant weight in the country's GDP, and with high business activity in construction, it is possible to draw a conclusion about the general state of the economy.

In the European economy, the PMI index continues to grow. The PMI indices of the euro zone are confidently demonstrating the increase, forcing the monetary authorities to focus more intensively on developing a plan for the normalization of monetary policy. With the beginning of autumn, the idea of ​​a reflagration strategy returned to the market, the US dollar being the beneficiary. To such a development of the situation, market participants are being pushed by the Fed. However, not all managers and exchange speculators consider this option to be a priority. So, with the beginning of the strengthening of the dollar index, the growth of net open short positions continues, which indicates a strong resistance of many market participants to such a trend.

The main judge in the dispute between bulls and bears on the dollar index will be the American economy. Only the growth of labour productivity, coupled with an increase in the speed of money circulation and reasonable inflation targeting, can ensure a steady growth of the US economy, and as a result, a steady growth in the US dollar index.

Most likely, we should wait for the consolidation of the dollar index at current levels, and perhaps, a small decrease. We wish you profitable trading!

Global Outlook. Bulls And Bears

Related Articles

Global Outlook. Bulls And Bears

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email