Stocks rise despite stronger Dollar, another explosion ahead?

Frank Walbaum FX Strategies.Asia

Important news for the day

Wed, 27th, 03:30 CET AU Consumer prices index.

Nvidia earnings

The AI boom is still ruling financial markets and today’s earnings of Nvidia might be a test on how much more upside should be expected. The price of the company has been rising more than 30% so far this year and hence also helped lifting the S&P 500 index. The company has been the first with a market value of more than USD 4 trillion. Some investors point out that the company is more like a measuring tool for the entire economy and hence the release might be a strong statement today.

Market talk

Today’s earnings report of Nvidia might lift markets even further. Equities and in particular the S&P 500 index have been rising again as the positive risk sentiment returns. The Dollar remains slightly positive and a stronger than expected PCE price index from the US on Friday might also help pushing the Dollar higher. The upcoming trading days might remain volatile as the month is coming to an end. Traders might take profits while closing their books.

Tendencies in the markets

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

Markets in focus.

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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GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

Crypto Today: Bitcoin steadies around $70,000, Ethereum and XRP remain under pressure

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Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

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Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.