Political unrest in South Korea, Silver reactive and crypto examined
Important news for the day
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Wed, 04th, 01:30 CET AU Gross domestic product.
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Wed, 04th, 14:15 CET US ADP employment change.
South Korea
South Korea is facing heightened political turmoil as opposition parties intensify their efforts to impeach President Yoon Suk-yeol over his controversial declaration of martial law, a move criticized as an overreach of executive power. The situation has sparked mass protests, deepening divisions within the country and raising concerns over potential instability in the region. The Korean Won is currently gearing up steam again, after the currency had lost momentum, yesterday. The Based on long-term charts current moves not been staring anyways, as the currency has lost momentum in the past 8 years.
Market talk
Market have not moved much since the beginning of the week. Yet, the AUD lost substantial steam today, as gross domestic product data has been disappointing. This could also offer further insights into the Chinese economy. China is ordering loads of goods from Australia and might hence affect the market sentiment as well. Especially Silver prices have risen and keep trading sightly below the 50- moving average for now. The JPY is taking a breezer and keeps losing some momentum today. Stock market continue to be well- bid while oil prices are rising slightly. The trend, however, remains intact.
Tendencies in the markets
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Equities positive, USD mixed, cryptos positive, oil sideways, Silver positive, Gold sideways, 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.
