Chinese stimulus, further central bank action and roaring Silver

Frank Walbaum FX Strategies.Asia

Important news for the day

Chinese equities

Equities in Asia continued to rise for the day. The stimulus by the PBOC seemingly caused investor demand to be restored. The Central bank had reduced their loans for 1- year loans. Furthermore also other Asian markets like Hong Kong and Japan went to the upside, indicating the positive demand might be here to stay for now. Also prices for iron ore were rising as the economic demand seems positive.

Market talk

The Dollar had extended its losses causing the Dollar index to weaken below the technical support level. This might cause the Greenback to weaken further against other currencies. As also oil prices weaken slightly alongside the Silver market the economic outlook might paint a mixed picture. Stock markets currently reflect this, as most US and European indices remain in a cautious sideways pattern. The Asian market remains influenced by the Chinese stimulus as it seems. The CAD might gear up steam based on the monthly chart against the EUR. And the interest rate decision tomorrow from Switzerland could cause the USDCHF to rise, should the SNB decrease rates.

Tendencies in the markets

Equities mixed, USD weaker, cryptos sideways, oil sideways, Silver correcting, Gold sideways, JPY weaker

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.

GBP/USD holds above 1.3450 despite Mideast uncertainty

GBP/USD trades flat on the day above 1.3450 following the bearish action seen in the early European session on Thursday. Conflicting rhetoric from US and Iranian officials about a potential deal fuels market concerns and limits the pair's upside, while investors refrain from taking large positions ahead of Friday's critical Nonfarm Payrolls data from the US.

EUR/USD declines below 1.1550 on modest USD recovery

EUR/USD corrects lower after posting gains for two consecutive days and trades below 1.1550 in the second half of the day on Thursday. Markets stay wary about the prospects of a US-Iran peace deal and the reopening of the Strait of Hormuz, keeping the safe-haven USD underpinned and making it difficult for the pair to regain its traction.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

Top Altcoins: Ripple, Cardano, and Solana vulnerable to deeper losses

Ripple, Cardano, and Solana are trading in the red on Thursday, facing downside pressure. The technical outlook for altcoins is bearish, as XRP risks falling below $1.00, ADA is eyeing the 50-day Exponential Moving Average at $0.1766, and SOL remains capped below a cluster of resistance levels.

AI defies the disinflationary playbook: Why lower oil prices might not be enough to cool core inflation

The global economic landscape has been fixated on the Middle East since the US-Iran war started in late February, reacting to significant changes in crude Oil prices and assessing how they could influence inflation dynamics and growth outlook.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.