Trump trades reversing – Crypto mixed, Dollar shaky

Frank Walbaum FX Strategies.Asia

Important news for the day

Tue, 19th, 14:30 CET CA consumer price index.

CAD CPI data

The Canadian Dollar has lost steam against most other currencies recently. Today, though, some strength of the “Loonie” can be observed. Any potential retracement to lower levels might be used as a selling opportunity. Movements could be supported by the consumer price index, which will be released in the afternoon, today. A slight strength of those figures could help those retracements to gear up steam. Especially the USDCAD currency pair might then offer interesting opportunities moving ahead.

Market talk

The Dollar might start to lose some momentum today. The Dollar index keeps falling at an important resistance zone and might be prone for lower levels. After the strong momentum the impact of the US election might start to fade for now “Politische Börsen haben kurze Beine”... That said also XRP is looking to weaken further. After our target has been reached we swapped sides to Short and eye the monthly chart for more potential downside pressure. Vice versa precious metals might continue their way to the upside, fueled by the weakness in the Greenback.

Tendencies in the markets

Equities lower, USD weaker, cryptos mixed, oil weaker, metals positive, JPY stronger,

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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