Risk on sentiment to gear up steam
Important News for the day
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Thu, 29th, 14:30 CET US prelim. Gross Domestic Product.
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Thu, 29th, 14:30 CET US Unemployment Claims.
US court ruling
In the US the court of international trade in New York has initially blocked tariffs initiated by the government. The ruling was that the President had not
the authority for such decision. Levies would be illegal in general following the April 02 implementation without affecting the sectoral price increases
on steel and car imports. Stock markets used the positive news to rise again overnight. The S&P 500 is trading more than 1.5% higher. The German
DAX on the other hand remains in a sideways pattern but had already gained beforehand.
Market talk
The weakness of the Dollar might resume today and with it also the positive sentiment in stock markets. Initial court decisions from the US will also
help the bullish view. Most currency pairs like the EURUSD, GBPUSD and AUDUSD keep pushing higher showing a bullish trend reversal. The
weakness of the Greenback might also be a reason why oil prices start to push higher again. Slight easing in geopolitical tensions should rather curb
prices of commodities, which seems not to be the case. Also precious metals look like they resume their upside momentum.
Tendencies in the markets
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Equities positive, USD weak, Bitcoin positive, ETH stronger, oil sideways, Silver positive, Gold positive, JPY weak.
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.
