Crypto steady, stocks rise

Frank Walbaum FX Strategies.Asia

Crypto markets

Stock markets continue to remain well- bid despite the recent fear about debt in the big AI companies might be a burden. After the technical retracement in equities upside momentum is expected to continue. Tech companies from China might be in focus as some try to bypass US sanctions. Companies like Alibaba and Bytedance continue to train their models in countries like Malaysia or Singapore in order to get access to chips manufactures by Nvidia. Stocks of ASML Holding from the Netherlands have also pushed up and are currently trading near their all-time- highs.

Market talk

Markets remain volatile with in particular Silver pushing higher. The positive momentum can also be seen in Gold, both supported today with the weakness of the Greenback. Some signs of strength of the Dollar might cause recent trends to weaken as the Dollar index is currently attempting to move higher. The JPY is losing steam against other currencies. The USDJPY looks positive based on short-term charts similarly to the EURJPY and GBP both pushing to the upside. On another note also the NZDUSD has been moving higher but is currently capped at the 50- moving average based on the daily chart. Both currencies, the AUD as well as the NZD, indicate that the risk sentiment might continue to remain intact pushing stocks to the upside.

Tendencies in the markets

Equities positive, USD stronger, crypto positive, oil positive, Silver strong, Gold positive.

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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