On Thursday, U.S. stock indices resumed their previous behavioral pattern – growth in the course of the trading session, compensating for the negative dynamics of the first half of the day. As a result, futures on the S&P 500 returned to the local maximum (1,365 points); the last time this level was reached was on February 20-21.
Thus, if we assume that the correction in stock markets is finished, then the depth of the decline would only be 10 points (0.7%). This is clearly not sufficient for a sustained strong upward movement, but this is quite sufficient for growth in the range of 0.5-1.5% in the near future - that is, to resistance levels on FX markets.
Given the fact that the end of the month is approaching, we can expect that major index movements will take place next week against the backdrop of the publication of the PMI business optimism index for all key world economies. At present, the preliminary data has been contradictory; thus, investors should not make any changes to their investment portfolio prior to the issuance of these results.
