Equities up, crypto sideways, what's next?

Frank Walbaum

Important News for the day

Thu, 16th, 02:30 CET AU Employment change.
Thu, 16th, 08:00 CET UK Gross domestic product.
Thu, 16th, 19:30 CET CA BoC Gov Macklem speech.

The crypto president

After taking office in the US President Trump made a fortune with his personal and corporate investments. The rise in the cryptocurrency market helped his fortune to gear up momentum by more than USD 1 billion. Other Presidents in US history have put their business aside or even had them managed by a trust to avoid a conflict of interest. The situation is in particular interesting as he previously labeled the crypto market as negative and also called it a competition to the Dollar. He changed his views during his campaign last year.

Market talk

The Dollar resumes some weakness and causes the positive momentum in the equity sector to be resumed. Furthermore also strong earnings from Europe lie LVMH and the US help the momentum to the upside as well. On the other hand also oil prices continue to weaken. If USOIL does not rise above some technical levels, the momentum might extend towards lower levels anytime soon. The USD 56.00 price level might hence break causing the slide to extend momentum. Crypto markets don’t run to the upside, though. The positive trend in the Nasdaq does seemingly not help the upside to extend the positive sentiment..

Tendencies in the markets

Equities positive, USD weaker, BTC sideways, ETH sideways, oil weaker, Silver sideways, Gold positive, JPY sideways.

Author

Frank Walbaum

AUD/USD consolidates above 0.7000; remains close to monthly top

AUD/USD holds steady above 0.7000 during the Asian session on Friday, trading just below the previous day's monthly low amid diverging forces. A hawkish RBA continues to support the Aussie, while the recent decline in US bond yields keeps the US Dollar depressed near a three-week low. However, oil-driven inflation fears reinforce Fed hike bets, which, along with geopolitical risks, could benefit the safe-haven buck and cap the currency pair.

USD/JPY bounces off one-month low; climbs to 157.00 amid reviving USD demand

USD/JPY rebounds from the 156.00 neighborhood, or a one-month low touched during Friday’s Asian session, with bulls looking to extend momentum beyond 157.00 amid the emergence of some US Dollar buying. Meanwhile, Japan's National CPI rose to a nine-month peak and reaffirmed BoJ rate-hike bets, which could support the Japanese Yen and cap gains for the currency pair.

Gold treads water around $4,000

Gold prices maintain its offered stance in place at the end of the week, hovering around the key $4,000 threshold per troy ounce. The persistent selling bias in the precious metal comes amid decent gains in the US Dollar and an acceptable rebound in US Treasury yields across the curve, all alongside further upside traction in crude oil prices.

Crypto Today: Bitcoin holds the 50-day EMA as Ethereum and XRP face structural resistance

Bitcoin gradually ticks up on Friday, trading above $81,000. The Crypto King has recently defended structural support near $80,000, reinforcing the prevailing bullish outlook. Ethereum similarly edges higher above $2,400, while Ripple trades above $1.32 after testing support around $1.30.

The French bond panic is overdone. Here's what the market is misreading

France's 10-year government bond yield has climbed above 5%, reigniting fears of a sovereign debt crisis in the Eurozone. With public debt exceeding €3.5 trillion, persistent budget deficits and a fragmented political landscape, investors are increasingly questioning the French government's ability to stabilize its finances.

What November 3 means for the Fed's rate path and the US Dollar

The USD faces a decisive period ahead of the November 3 midterm elections. While markets anticipate another interest rate increase from the Fed in December, the battle for control of Congress could reshape fiscal policy expectations and, indirectly, the path of US monetary policy in 2027.