Indices rock, Oil down, Dollar weaker
Important news for the day:
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Fri, 16th, 08:00 CET UK Retail sales.
US equities
The general positive trend for the equity market in particular for the US has been resumed. One scenario might also be that worries about a potential recession have been contained. The S&P 500 rallied 3.7% so far this week potentially offering further growth. The tech heavy Nasdaq has even offered a 5.0% gain. So after the recent slide, markets were able to continue with the most momentum since November last year.
Market talk
Unemployment claims from the US came in better than expected yesterday and this move caused the Dollar to resume to positive momentum. Currently, however, it seems that traders focus on selling the Greenback again. This also might be a reason for positive risk sentiment in markets. Meanwhile also Gold and Silver look set to resume further upside potential. On the other hand oil prices continue to weaken further, as the general outlook on the economy remains negative. Equities might continue with their positive trend as also the JPY carry trade has been resumed as information from Nomura reveals.
Tendencies in the markets:
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Equities positive, USD weak, cryptos sideways, oil weaker, metals 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.
