Potential truce in Gaza, crypto rising and Metals strong

Frank Walbaum FX Strategies.Asia

Important News for the day

Fri, 17th, 08:00 CET UK Retail sales.

Gaza truce

The Israeli government is expected to vote on a deal about Gaza today. The cabinet would then add a six weeks truce, which would then offer enough time to exchange hostages and prisoners. Despite the return of Israeli hostages from Gaza also Israel would then return Palestinians. Currently the Israeli army is still attacking targets in the Gaza strip with the local population still hoping for the fighting to end. Oil prices continue to move higher, yet seemingly impacted more by the recent imposed sanctions over Russia.

Market talk

Equities continue their way to the upside, whereas most tokens remain capped near the 50- moving average for now. Tech- heavy Nasdaq remains behind. The German DAX on the other hand had exploded to higher levels, maybe also due to the cheaper EUR and slightly better sentiment from the Eurozone. Worth noting that also crypto markets remain positive. XRP had exploded to the upside and remains well- bid. Silver might retrace a bit and could offer fresh buying opportunities near the psychological USD 30.00 zone.

Tendencies in the markets

Equities positive, USD potential stronger, cryptos positive, oil positive, Silver positive, Gold positive, JPY stronger.

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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