Oil rising, Iran falling

Frank Walbaum FX Strategies.Asia

Important news for the day

Wed, 14th, 14:30 CET US Producer price index / Core Retail Sales.

US data

Today, traders will focus on the news releases from the US. Producer prices might cause some fresh volatility in markets. Yesterday’s consumer prices have been slightly weaker, yet without much market momentum thereafter. Instead, the Dollar started to resume some strength in the hurs after the release and might now resume its bullish trend. On another note, traders should also focus on the release of the retail sales. Despite not being extremely important they might also guide markets. Furthermore Bitcoin and Ethereum among other tokens have started to move slightly higher. The bullish momentum might hence start gearing up pace should the positive trend continue to last.

Market momentum

According to activists in Iran, the government had already killed more than 2,500 people during the protests. More than 2,400 protesters, who were critical of the government had seemingly been among the victims while about 150 people had been connected with the leaders in Teheran. Oil prices, in the meantime, have resumed their way moving higher. Yesterday, USOIL rose towards the USd 61.50 level, before slightly correcting during today’s trading. Due to the geopolitical tensions the market might continue to rise for now. On the other hand stock markets started to move slightly lower as profit taking has been setting in. The S&P 500 and the Nasdaq both started to move slightly lower. At the same time the German DAX keeps pushing higher, still. Also Chinese stocks remain well- bid as the positive trend keeps pushing markets higher.

Tendencies in the markets

Equities mixed, USD stronger, crypto positive, oil positive, Silver positive, Gold strong.

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 hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.