RBA and BoE to guide markets, Dollar strength to continue
|Important News for the day
Tue, 04th, 04:30 CET AU Interest rate decision.
Wed, 05th,14:15 CET US ADP Nonfarm employment change.
Wed, 05th 16:00 CET US ISM services pmi.
Thu, 06th, 13:00 CET UK BoE interest rate decision.
Risk sentiment
Profit taking might still cause stock markets to weaken. While the Nasdaq and S&P 500 remain sideways also XAU and Silver markets only resume slight upside momentum amid a stronger Dollar. The Silver market had printed a positive pinbar candlestick pattern and might move higher in the short term. Yet, the bearish looking candlestick charts potentially continue to cause profit taking in markets. The risk sentiment might also be set by the further movement of the AUDUSD currency pair.
Market talk
Another Central Bank week will likely move markets. The RBA might cause the AUD to move. After some recent strength in the Aussi, some weakness might now start to set in. With the technical pattern downside momentum might occur. Furthermore also the GBP looks set to push lower. A potential surprise rate- cut might also cause the Pound to weaken against the Dollar. No data should be expected this week as the shutdown in the US continues.
Tendencies in the markets
Equities sideways, USD stronger, crypto weaker, oil sideways, Silver sideways, Gold positive
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.