Potential Dollar weakness might support the positive risk sentiment
|Important news for the day
- Fri, 11th, 14:30 CA Unemployment rate.
Economic sentiment
Recent economic data for Germany continues to be negative. As companies consider relocating their headquarters, this could further weigh on the economy. With tax increases, airline travel might also suffer, as companies like Ryanair plan to close offices in parts of Germany and reduce flight offerings. The housing market might see a slight uplift if interest rates are lowered, leading to cheaper mortgage options.
Market talk
The recent positive momentum in the Greenback might currently fade, with other currencies gaining steam against the Dollar. The AUD and EUR look set to push higher, which could also signal continued positive risk sentiment. Stock markets remain at elevated levels. The S&P 500 might retrace slightly but could also push higher. Chinese stocks saw another slide and might move lower as the recent positive sentiment continues to fade. Oil saw some upside yesterday and confirmed a breakout above the 50-day moving average based on the daily chart.
Tendencies in the markets
- Equities positive, USD weaker, cryptos weak, oil positive, metals positive, JPY weaker.
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