Asian currencies gain, weaker Dollar supports equities and Gold roaring

Frank Walbaum FX Strategies.Asia

Important news for the week

Tue, 20th, 14:30 CET CA Consumer price index.
Wed, 21st, 20:00 CET US FOMC Minutes.
Thu, 22nd, 09:30 CET DE Purchasing manager index.
Thu, 22nd, 14:30 CET US Unemployment claims.
Fri, 23rd, all day US Jackson Hole symposium.

FX markets

Currencies in Asia have geared up momentum in general.As the growth outlook remains rather positive also the FX markets shows a positive picture. Among the gainers are the Malaysian Ringgit, the Singapore Dollar, the Korean Won and also the Thai Baht. The appointment of a new Prime Minister in Thailand might also add positive momentum after political uncertainty. As we pointed out in our weekly outlook market video the JPY could continue to gear up further momentum for now. The Yen is not only gaining against the Dollar but also rising against most other currencies.

Market talk

The weakness of the Dollar might continue. Stock markets in particular show positive impact and continue to rise further. Also the prices for Gold and Silver continue to push higher. Whereas Gold might be fuelled by worries about the economy the price of Silver might be positively impacted due to the weaker Greenback. Furthermore the price of the CAD might show further momentum due to the news from Canada. Consumer prices could play a big role here.

Tendencies in the markets

Equities positive, USD weak, cryptos sideways, oil weaker, metals positive, JPY stronger.

Author

Frank Walbaum

FX Strategies.Asia

Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.

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