Drone attacks and a stronger Dollar to harm markets
Important News for the day
- Tue, 29th, 02:00 CET JP Gov. Ueda Speech.
US politics
Stock markets continue to be supported by the delay in tariffs from the US. Despite the slightly worse PMI data from Germany last week in particular the DAX keeps pushing higher. US and Japanese bond markets continue to trade slightly higher, which might be a reason why the JPY is losing some momentum. Without a potential deal in the Ukraine supported by US President Trump geopolitical tensions keep rising. Since the increase of Russian attacks by drones a deal seems not reachable currently.
Market talk
Without major news on the economic calendar markets continue to push higher. Yet the slight strength of the Dollar might have some impact here as well. The AUD, EUR and other currencies lose some steam against the Greenback. This momentum seemingly also helps Gold and Silver heading lower. Oil prices remain resilient, though and might remain in their sideways pattern. Crypto markets continue to trade sideways with potential upside ahead, especially for Bitcoin. The German DAX continues to trade near its all- time- high potentially ready to push higher after the recent breakout.
Tendencies in the markets
- Equities positive, USD stronger, Bitcoin positive, Altcoins positive, oil sideways, Silver correcting, Gold correcting, JPY weak.
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.
