Profit taking at the last trading day of the month?

Frank Walbaum FX Strategies.Asia

Important news for the day

Fri, 30th, 11:00 CET EU CPI flash estimate.

Last trading day

Today markets might face some extra volatility and potential profit taking during the last trading day of the month. As equities look slightly shaky near or at their current all- time- highs some downside momentum might occur. The unemployment data from the US yesterday has shown a steady pace and today’s CPI data from the Eurozoone might offer further insights for the European Central Bank.

Market talk

The slight strength of the Greenback currently resurfaces and causes most currencies to lose some momentum against the Dollar. Also the precious metals markets return lower and equities might remain at or below current levels. Worth noting that oil prices remain range bound within the current triangle pattern. A breakout into either direction as the weekly chart suggests, might happen. Based on the monthly pattern, though, a push to higher levels might follow. The market has been able to remain on top of the long- term critical 50- moving average, which acts as a positive bias for oil. Crypto markets remain sideways but still might offer bearish sentiment as technical patterns suggest. Upcoming general moves in markets should depend on the development of the US- Dollar.

Tendencies in the markets

Equities weaker, USD stronger, cryptos weak, oil positive, metals sideways, 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.

EUR/USD keeps the bid bias just over 1.1800

EUR/USD has started the week on a positive foot, hovering around the 1.1800 region in the latter part of Monday’s session. The pair’s recovery comes on the back of a decent decline in the US Dollar, as investors keep their attention on the evolving US–EU trade relationship after President Trump’s announcement of sweeping global tariff hikes.

GBP/USD looks stuck around 1.3500 amid firm gains

GBP/USD is pushing further north on Monday, revisiting the 1.3500 hurdle and beyond. Cable’s uptick is largely being fuelled by the broader softness in the Greenback, amid lingering uncertainty around tariffs.

Gold pops above $5,200, four-week highs

Gold is holding onto its bullish tone on Monday, reaching new multi-week highs just past the $5,200 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.

Crypto Today: Bitcoin, Ethereum, XRP intensify sell-off as tariff uncertainty weighs

Bitcoin, Ethereum and Ripple are trading amid increasing selling pressure at the time of writing on Monday, as investors react to fresh trade uncertainty over US President Donald Trump’s push for more tariffs.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.