We expect a negative start for the European trading session

Powell definitely shook the markets yesterday, hinting that there would be no interest rate cuts, but also refrained from commenting on a possible rise. His comments on inflation led to a rise in the dollar and the US indices ended in red. The sell-off wave was also shifted to Asia, with the few open trading centers declining.

Negative is also being carried over to Europe, indicating that the prices of the main European indices point to a lower opening. Today, the focus of European markets will be on the assimilation of information from the data and the press conference yesterday, Brexit, PMI data in the economic calendar and the BNB Paribas report.

The markets will also expect details about the news that we can expect a trading deal next time. Both sides have said before their optimism and that "the negotiations are productive," but this time these claims seem to be more serious.

The Japanese yen remains down after the US dollar yesterday's reversal, stood at levels around 111.20 - 111.49, and the Australian dollar has also been depressed by the US dollar rising to about 0.7015. We still expect the dollar to "reign" today, as the euro can now remain in red territory. Short fixes, of course, "breaks" for the US dollar are not excluded.

We expect oil to stay flat, but with a bearish mood because of the higher inventory yesterday, but the geopolitical risks in Libya and Venezuela support the price in the shade. Considering the dovish mood of the Fed, we expect gold to remain also today depressed in the area around 1272-1276.

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