TRENDING:

GBP/USD

XAU/USD

ECB decision due, markets support by positive news

Frank Walbaum FX Strategies.Asia

Important news for the day:

Thu, 24th, 09:15 CET FR Manufacturing / Services PMI.
Thu, 24th, 09:30 CET DE Manufacturing / Services PMI.
Thu, 24th, 14:15 CET EU ECB interest rate decision.
Thu, 24th, 14:30 CET US Unemployment claims.

PMI data

Today, traders will focus on the various PMI data as well as the interest rate decision of the ECB. No adjustment in rates is being expected. This might hence support the EUR and could cause the common currency to rise further. The Dollar might hence lose some steam against other currencies as well. The PMI data from two important European countries came in- line with expectation, which continues to support markets. The German DAX has not been responsive so far but shows small signs of potential profit taking.

Market talk

The Dollar continues to lose some steam and markets might still be influenced by the positive risk sentiment. Yesterday, the S&P 500 and Nasdaq continued to push higher. Furthermore also the AUD is moving upwards, which also shows the positive risk momentum. Vice versa crypto markets seem to show some signs of profit taking. Especially altoids like XRP, Solana and Dogecoin are facing profit taking currently. It will be interesting to see how this week will end to determine the future trend.

Tendencies in the markets

Equities positive, USD weak, Bitcoin sideways, ETH correcting, oil weaker, Silver positive, Gold sideways, 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.

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