Oil, EUR and Gold – What to trade best?

Frank Walbaum FX Strategies.Asia

Important news for the day

Thu, 13th, 08:00 CET UK Gross domestic product.
Thu, 13th, 08:30 CET CH Consumer price index.
Thu, 13th, 14:30 CET US Producer price index.

Ukraine war

After phone calls between aTrump and Putin as well as Trump and Selensky it seems that discussions to end the war in the Ukraine might face some hope. Trump stated, that the situation could only be solved if the Ukraine would guarantee not to join NATO as well as potentially hand over some areas to Russia, which might also include Crimea. Oil markets rather remain calm and lost momentum after the news. A potential slide in prices should be expected. The positive market sentiment might also face further momentum.

Market talk

The positive risk sentiment n equities can be seen across the board. Worth noting that in particular the Nasdaq from the US might continue a breakout to the upside, indicating fresh demand for US tech companies. The weakness of the Greenback would support the positive bias as well. The recent strength of the AUD has slightly faded, whereas the EUR and GBP continue to shine. Strong GDP data from the UK might cause the Pound to remain strong. On the flipside crypto markets remain rather sideways, without significant upside for now.

Tendencies in the markets

Equities positive, USD weaker, cryptos sideways, oil weak, 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.

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