Positive risk sentiment

Frank Walbaum FX Strategies.Asia

Important news for the day

Fri, 16th, 11:00 CET UK Gov Bailey Speech

Equities

Stock markets continue to remain positive also supported by recent US data. Retail sales were slightly better than expected and might give markets another boost. Yesterday, US unemployment claims had been weaker as well and might support the positive sentiment as well. With the positive trend also the DAX is able to rise further, despite behind at a technical resistance zone now. A clear break of the 25,450 zone might cause the uptrend to gear up steam as well. On the flipside the AUD remains mixed and seems holding up nicely to the Dollar as compared to the EUR and the GBP.

Market talk

The crypto market remains positive. After the correction in December markets remain positive so far in January. Bitcoin is leading market gains but currently not able to break the technical resistance zone ay USD 96,000. The same area also marks the 50- moving average resistance, which could be a reason for the slight correction. ETH is also running higher but needs to break the USD 3,400 resistance level. With the VIX index falling again, the positive sentiment in risky assets might continue, despite ongoing strength of the Dollar and rising Gold prices.

Tendencies in the markets

Equities positive, 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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