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.

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