Silver weakening further, stocks rising

Frank Walbaum FX Strategies.Asia

Rate decisions

According to a report of the Financial Times, price swings of more than USD 100 billion within a day on Wall Street has happened 119 times so far this year, which is the highest annual total recorded. Options and ETF and the flows of money into Big Tech companies remain the number one driver of this. With important earnings from US tech due this week, the volatility is expected to remain high. Tomorrow’s earnings of Microsoft, Google and Meta might add to the fire, whereas market volatility might also be added from the FED and their interest rate decision.

Market talk

Currently no day passes with further weakness in the metals market. The Silver market has broken below the recent support level of USD 48.00 and also Gold prices continue to slide further. The momentum of the Dollar remains subdued and investors seem to rather wait for the FED interest rate decision tomorrow before entering into new trading positions. The German DAX keeps pushing higher and might start to break above the important technical resistance level at 24.400. Falling oil prices might help equity markets in general as the risk sentiment remains positive. The AUDUSD shows that clearly. This market usually moves higher when investors tend to buy risky assets.

Tendencies in the markets

Equities positive, USD stronger, BTC positive, ETH positive, oil weaker, Silver weaker, Gold weaker.

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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