Asian currencies gain, weaker Dollar supports equities and Gold roaring
|Important news for the week
- Tue, 20th, 14:30 CET CA Consumer price index.
- Wed, 21st, 20:00 CET US FOMC Minutes.
- Thu, 22nd, 09:30 CET DE Purchasing manager index.
- Thu, 22nd, 14:30 CET US Unemployment claims.
- Fri, 23rd, all day US Jackson Hole symposium.
FX markets
Currencies in Asia have geared up momentum in general.As the growth outlook remains rather positive also the FX markets shows a positive picture. Among the gainers are the Malaysian Ringgit, the Singapore Dollar, the Korean Won and also the Thai Baht. The appointment of a new Prime Minister in Thailand might also add positive momentum after political uncertainty. As we pointed out in our weekly outlook market video the JPY could continue to gear up further momentum for now. The Yen is not only gaining against the Dollar but also rising against most other currencies.
Market talk
The weakness of the Dollar might continue. Stock markets in particular show positive impact and continue to rise further. Also the prices for Gold and Silver continue to push higher. Whereas Gold might be fuelled by worries about the economy the price of Silver might be positively impacted due to the weaker Greenback. Furthermore the price of the CAD might show further momentum due to the news from Canada. Consumer prices could play a big role here.
Tendencies in the markets
- Equities positive, USD weak, cryptos sideways, oil weaker, metals positive, JPY stronger.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.