Market shifts starting to unfold
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.
