Cryptos weaker, us stocks rising, and the Fed?

Frank Walbaum FX Strategies.Asia

Important News for the day

Fri, 25th, 14:30 CET CA Gross domestic product.
Fri, 25th, 14:30 CET US Core PCE price index.

US PCE index

The US core pce price is important for markets. Especially since the Fed recently started to cut rates again it will give traders further information into a potential new rate cut during the next meeting. The data came out at 0.2% and hence did not show another surprise increase in prices. The strength of the Dollar seems not to be affected as markets had expected the news. Stock markets on the other hand resumed some upside, as the Fed is expected to cut rather potentially even at the next meeting.

Market talk

The strength of the Dollar continues to harm financial markets. US indices continue to move lower and might remain in the bearish trend for now. The negative sentiment causes the S&P 500 to weaken as well as the Nasdaq index. Worth noting that the DAX remains rather solid trading on top of the technical support zone at 23.500. The negative trend also causes crypto markets to weaken. The bearish sentiment now looks set to continue and weekly candlesticks suggest further pressure in coming days. Precious metals on the other hand remain solid. Gold is rising further and also the demand for Silver looks positive mind the current correction in markets.

Tendencies in the markets

Equities positive, USD stronger, BTC negative, ETH weaker, oil positive, Silver positive, Gold positive, 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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