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