SNB without much news but Dollar strength to shake up markets

Frank Walbaum FX Strategies.Asia

Important news for the day

Thu, 26th, 09:30 CET CH Interest rate decision

SNB interest rate decision

Today the Swiss National Bank has decided upon their interest rate moving forward. We had been anticipating that rates would be lowered and after the news the Swiss Franc might depreciate as well. Especially the slight returning strength of the Dollar caused the Swissy to lose steam against the Greenback causing the currency pair to move higher. Currently the market remains sideways though without major momentum in any direction.

Market talk

General moves in markets have changed direction. After the new round of stimulus in China the market sentiment in Asia remains mixed. Especially the stronger Dollar causes the risk sentiment to be muted. Losses might be expected as also the AUD is heading lower after previously rising to higher levels. A technical resistance area might cause the market to weaken potentially offering negative momentum ahead. After the recent push higher in the crypto space BTC and ETH remain sideways. Some general saturation seems to be the case. The uptrend in Silver and Gold seems to be intact, however, some corrective pattern might also happen here.

Tendencies in the markets

Equities sideways, USD stronger, cryptos weaker, oil weak, metals sideways, JPY 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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