TRENDING:

GBP/USD

XAU/USD

Positive risk sentiment continues, JPY weaker, economic data being ignored

Frank Walbaum FX Strategies.Asia

Important news for the day

Fri, 09th, 14:30 CET CA Unemployment rate/employment change.

Fed rates

According to statements from Kansas Fed President Schmid the Central Bank might not be ready to reduce interest rates soon. Inflation remains still above target and should be eyed cautiously. Despite some cooling also the labor market won’t offer signs of tremendous weakness he pointed out. As the elections in the US are coming up soon also US Presidential nominee Trump stated that the President should have a say over interest rates. He made such remarks many times in the past, too. On another note also recession is now being expected for the US, potentially causing volatile times ahead.

Market talk

The Aussi has been gearing up steam all week after the initial losses on Monday. Also equity markets might run higher as the risk sentiment changed to being positive. Oil prices continue to rise as demand grows and negative economic sentiment continues to fade. Also crypto markets gear up steam again and another test of higher levels might follow. Precious metals continue their ways higher, too. Silver looks stable on top of the weekly 50- moving average trendline and Gold might break out from yesterday’s highs. Worth noting that most crosses like the EURAUD, EURCAD and EURNZD point to weaker price levels currently.

Tendencies in the markets

Equities positive, USD mixed, cryptos positive, oil positive, metals positive, JPY weaker.

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD trims gains, nears 1.1700

The EUR/USD pair eases in the American afternoon and approaches the 1.1700 mark. The pair surged earlier in the day after the ECB left interest rates unchanged and upwardly revised inflation and growth figures. The US CPI rose 2.7% YoY in November, nearing Fed’s goal.

GBP/USD steadies below 1.3400 as traders digest BoE policy update and US inflation data

The GBP/USD pair stalls the previous day's pullback from the vicinity of mid-1.3400s and a nearly two-month high, though it struggles to attract meaningful buyers during the Asian session on Friday. Spot prices currently trade around the 1.3380-1.3385 region, up only 0.05% for the day, amid mixed cues.

Gold declines despite Fed rate cut hopes as US inflation cools

Gold price keeps pushing lower below $4,350 in Asian trading hours on Friday. The precious metal stays in the red due to some profit-taking and weak long liquidation from shorter-term futures traders.

Top Crypto Losers: Pump.fun, Pudgy Penguins, and Hyperliquid extend bearish streak

Pump.fun, Pudgy Penguins, and Hyperliquid lose ground in an extended bearish streak, recording double-digit losses this week. The surprise drop in the November US Consumer Price Index to 2.7%, beating expectations of 3.1%, fueled a rally in the stock market.

Bank of England cuts rates in heavily divided decision

The Bank of England has cut rates to 3.75%, but the decision was more hawkish than expected, leaving market rates higher and sterling slightly stronger. It's a close call whether the Bank cuts again in February or March.

Ripple holds $1.82 support as low retail demand weighs on the token

Ripple (XRP) is trading between a key support at $1.82 and resistance at $2.00 at the time of writing on Thursday, reflecting the lethargic sentiment in the broader cryptocurrency market.