Crypto correction in the making? – Silver strong

Frank Walbaum FX Strategies.Asia

Important News for the day

Tue, 10th, 04:30 CET AU AUD rate statement.

Political uncertainty

Reports circulate that Syrian leader Assad has received asylum in Russia and already fled the country. Financial markets seemingly remain calm with the current situation. The price of Gold does not move much and also oil markets rather remain weak for now. The rebels, who took over the capital of Damascus are said to be linked with al- Qaeda.

Market talk

The Dollar shows some slight potential against most other currencies. In particular the AUDUSD keeps losing steam, after the slide started to gain momentum in late trading, yesterday. Crypto markets remain shaky. Bitcoin’s run higher might have found a resistance with the USD 100k level and also XRP is looking set to weaken at current levels. Worth noting that Silver prices had a big run up into the USD 32.20 area. Should yesterday’s high break, the market might continue to higher levels.

Tendencies in the markets

Equities sideways, USD stronger, cryptos weaker, oil weaker, Silver strong, 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.

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