Market shifts starting to unfold

Frank Walbaum FX Strategies.Asia

Important news for the day

Thu, 27th, 14:30 CET US prelim. Gross domestic product.
Thu, 27th, 14:30 CET US Unemployment claims.

European markets

The positive sentiment in European markets seems to continue. Despite the negative sentiment in regards to US stocks the positive momentum continues. Most indices from Europe seem to be resistant to previous losses and hence continue trading solid. Earnings data might face a rise in market sentiment. A potential change in the German political landscape could also help supporting this view, if a government can be formed quickly. On the other hand falling oil prices could also support developments in general.

Market talk

US equity markets continue to trade on the shaky side. Nvidia posted positive earnings, yet they seemingly did not cause the general market to move higher, like one would expected in a real bull market. Instead fresh buying seems to remain absent, which could cause the momentum to remain negative for now. Furthermore, crypto markets follow suit. Most tokens have weakened further causing some negative sentiment moving forward.

Tendencies in the markets

Equities negative, USD mixed, cryptos weaker, oil weak, Silver weak, Gold weaker, JPY sideways.

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.

EUR/USD faces next resistance near 1.1930

EUR/USD has surrendered its earlier intraday advance on Thursday and is now hovering uncomfortably around the 1.1860 region amid modest gains in the US Dolla. Moving forward, markets are exoected to closely follow Friday’s release of US CPI data.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.

Gold plunges on sudden US Dollar demand

Gold drops markedly on Thursday, challenging the $4,900 mark per troy ounce following a firm bounce in the US Dollar and amid a steep sell-off on Wall Street, with losses led by the tech and housing sectors.

Ripple collaborates with Aviva Investors to tokenize funds as XRP interest declines

Ripple (XRP) exhibits subtle recovery signs, trading slightly above $1.40 at the time of writing on Thursday, as crypto prices broadly edge higher. Despite the metered uptick, risk-off sentiment remains a concern across the crypto market, as retail and institutional interest dwindle.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Aster Price Forecast: Demand sparks on Binance Wallet partnership for on-chain perpetuals

Aster is up roughly 9% so far on Thursday, hinting at the breakout of a crucial resistance level. Aster partners up with Binance wallet for the second season of the on-chain perpetuals challenge.