Nvidia earnings, Fed governor fired, markets in a waiting pattern

Frank Walbaum FX Strategies.Asia

US Fed

US president stated that he was firing Fed governor Lisa Cook with immediate effect. She pointed out that the President does not have authority for such steps and won’t resign herself as well. Trump fired her for wrongdoing in regards to having made false statements on mortgage agreements. The situation marks a further escalation as Trump pointed out countless times in the past that he is unhappy with the Central Bank to not cutting interest rates faster.

Market talk

The Dolar started to rise slightly against other currencies during late trading, yesterday. The positive trend might continue for now and in particular the NZDUSD currency pair faces potential further losses. US indices remain rather stable having lost only slight positive momentum. Today’s earnings by Nvidia might cement the uptrend further, should data come in robust again. Oil prices keep trading subdued and might weaken further. The trend looks set to push lower. Silver and Gold remain positive as the uptrend is being tested currently. Cryptos remain under pressure and might move lower for now.

Tendencies in the markets

Equities positive, USD stronger, BTC sideways, ETH negative, oil sideways, Silver positive, Gold positive, 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 extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.