Tariffs, war, Oil and crypto – Which market gives way first?
|Important news for the day
- Tue, 11th, 15:00 CET US JOLTS job openings.
Weekly data
In another attempt in finding common ground for peace- talks, US an Ukrainian officials met in Saudi Arabia on Monday. America’s top diplomat stated that the Ukraine would need to give up some territory as a part of agreements to reach a potential ceasefire. The borders from 2014 might not be achieved again. While Russia “can’t conquer all of the Ukraine” the Ukrainian army also won’t be able to push them back all the way to the initial borders.Oil prices have recently fallen and might be poised to push lower. This situation might help markets further and could cause the downside momentum to continue.
Market talk
European stock markets also seem to follow their US counterparts, which had lost some steam yesterday. The slide in the Eurostoxx remains significant, whereas the DAX has started a recovery during today’s trading. Especially US technology stocks (“Magnificient 7”) continue to trade in the red with potentially further negative sentiment ahead. US tariffs and renewed worries about a US recession continue to weigh on markets, as investors shift their money to alternative assets. The crypto market in general looks set to weaken with further potential downside ahead. As the profit taking in Bitcoin continue also altcoins, in particular Ripple might get more beating in the near future.
Tendencies in the markets
- Equities weaker, USD weak, cryptos weaker, oil weak, Silver positive, Gold positive, JPY stronger.
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.