Silver volatile, USD stronger

Frank Walbaum FX Strategies.Asia

Important news for the day

Fri, 6th, 14:30 CET CA Unemployment rate.
Fri, 6th, 16:00 CET US Consumer sentiment.

USD data

Due to the small recent partial shutdown in the US the NFP release will be delayed and only be released next week. Today’s data will mainly come from Canada, where the Canadian Dollar is looking to gear up strength against other currencies. The Loonie might gear up more momentum should the data come out better than expected. Furthermore the US prelim consumer sentiment might also offer more insights, whereby the focus will likely be shifted to next week.

Market talk

The volatile moves in the precious metals market continue to remain extremely high. Especially the price of Silver remains under pressure, while gold remains rather stable with a potential positive outlook. Oil prices came back to the upside and it still looks like a break higher mit be on the cards. Such move might be against the general trend, as stocks remain under pressure. The S&P 500 broke lower and also the Nasdaq is moving to the downside. However the general shift in markets continues to be positive. Defensive stocks have not lost much and metals and minerals companies as well as distributors remain strong.

Tendencies in the markets

Equities weaker, USD stronger, crypto weaker, oil positive, Silver weaker, 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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