Crypto steady, stocks rise

Frank Walbaum

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

AUD/USD keeps range near mid-0.7100s as USD bulls await US CPI

AUD/USD steadies near mid-0.7100s in the Asian session on Friday, stalling the previous day's sharp decline to an over one-week low. The August PPI report reaffirmed Fed rate-hike bets and boosted the US Dollar on Thursday, which weighed heavily on the pair. However, hawkish RBA expectations limited losses for the Aussie as USD bulls now await the release of the US consumer inflation figures before placing fresh bets.

USD/JPY holds lower ground toward 154.00; looks to US CPI

USD/JPY holds lower ground toward 154.00 in the Asian session on Friday after hot Japanese PPI data bolster a more hawkish BoJ repricing and provide fresh impetus to the Japanese Yen. However, the downside appears capped as the US Dollar preserves overnight gains ahead of the latest US consumer inflation data.

Gold: Gains remain capped by $4,400

Gold regains composure and trades with decent gains on Friday, managing to refocus attention on the $4,440 mark per ounce troy. Therefore, the precious metal reverses Thursday’s decline as the US Dollar alternates gains with losses at the end of the week.

Ripple Price Forecast: XRP extends decline as returning ETF inflows fail to lift outlook

Ripple (XRP) falls below $1.33 on Friday, marking the third consecutive day of declines. The token continues to track the broader cryptocurrency market downturn, with investors closely monitoring heightened macroeconomic uncertainty ahead of the United States (US) Consumer Price Index (CPI) release and next week’s Federal Reserve (Fed) monetary policy decision.

Weekly focus – The hawks set the tone

Risky assets came under pressure this week as energy prices kept creeping higher and the ECB surprised the markets with a hawkish tone. The price of Brent crude touched USD 110 per barrel on Thursday night, highest since mid-May, as news emerged that the Yemeni Houthis had reached control of key port cities and islands near the Bab el-Mandeb strait.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.