Fed looming, BoE with potential action and NFP to add fresh volatility

Frank Walbaum FX Strategies.Asia

Important news for the day:

Tue, 30th DE German prelim CPI.
Tue, 30th, 16:00 CET US Consumer confidence.
Tue, 30th, 16:00 CET US JOLTS job openings.

Cutting targets

Many big companies from the Eurozone are cutting their profit targets.The demand remains weak. Stock markets currently reverse and a potential further slowdown might be on the cards. Price increases might be also one reason behind such moves as reports from Nestle SA confirms. Also luxury brands state that profitability is going down. Mercedes- Benz pointed out that competition in particular from China is picking up steam. Profits were expected to rise 4% for this year.

Market talk

The strength of the Greenback shows further potential as the DXY (Dollar- index) suggests. Most currencies lose against the Greenback. However, the precious metals market shows signs of positive potential. Silver might start to rise based on the current support zone seen on the daily chart. Also the weakness of the JPY might continu.e The USD and the EUR in particular gear up steam against the JPY again. The positive risk sentiment shows mixed potential. The S&P 500 is currently rising slightly whereas the NAS100 looks weak. Bitcoin might rise should it break the important resistance area of USD 70.000.

Tendencies in the markets:

Equities mixed, USD stronger, BTC positive, oil weaker, Gold correcting, Silver at support, 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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