Stocks rotate, Dollar firm

Frank Walbaum FX Strategies.Asia

Important news for the day

Thu, 15th, 08:00 CET UK Gross domestic product.
Thu, 15th, 14:30 CET US Unemployment claims.

Equity shift

The rotation in the equity market continues. While tech companies like Nvidia, Apple and Microsoft among others continue to suffer the broader based market seems to rise now. Especially Companies like VALE, RIO or BHP keep rushing higher as the commodity market seems to remain extremely bullish. Also, general stocks like Pepsi and chemical giant LyondellBasell is marching higher as investors seem to favour consumer goods and manufacturing more right now. The Dollar remains rather strong and might also continue its strength against other currencies.

Market talk

The recent positive sentiment in the crypto market might continue. Bitcoin is trading above the psychological level of USD 95,000 and despite the current retracement today might be on track to target the USD 100,000 price level. Ethereum keeps following suit while other altcoins are lagging behind for now. Meanwhile in Iran the situation seems to get more tense. Oil prices went higher yesterday but started to fade during late trading before the market closed. An indication of an imminent solution or easing of tensions in the conflict?

Tendencies in the markets

Equities mixed, USD stronger, crypto positive, oil positive, Silver positive, Gold strong.

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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