Rising stocks, focus on Nvidia

Frank Walbaum FX Strategies.Asia

Important news this week

Wed, 01:30 CET AU Consumer price index.
Wed, 03:00 CET US President Trump speech.

Positive AU data

Consumer prices from Australia caused an initially positive sentiment, which helped the AUD to rise initially. Yet, in the hours after the news the market came lower, also supported by renewed strength of the Dollar. The risk sentiment turned slightly positive again helping stock markets to rise. The S&P 500 is on track to retest the 7,000 price level and also the technology based Nasdaq index went higher again.

Market talk

Currency markets currency remain in a rather sideways pattern without directional trends. While the Dollar hsa not shown momentum into any direction as the Dollar index shows, markets might remain in a waiting pattern. Pressured by geopolitical tensions, negative headlines from the US like record- debt, still sticky inflation and a decline in the labour market also a potential attack on Iran still remains on the cards, which is supporting the oil market. That, would rather be a burden for China, which keeps important about 1/3 of their oil from other countries. Today’s focus should be on the earnings of Nvidia.

Tendencies in the markets

Equities positive, USD stronger, crypto sideways, oil weaker, Silver positive, Gold positive.

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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