Strong equities, weak Dollar and a stunning outlook
|Important news for the week
- Wed, 28th, 03:30 CET AU Consumer price index.
- Thu, 29th, all day DE Prelim. consumer price index.
- Thu, 29th, 14:30 CET US Unemployment claims.
- Fri, 30th, 14:30 CET US Core PCE index.
Powell speech
Markets remain positive after the hawkish message from Jerome Powell in Jackson Hole. He pointed out that rates will be cut, which caused stock markets to be positive again. It would be time to reduce rates as markets would see inflation figures coming down. Furthermore also similar comments followed from the ECB, which might be ready to cut rates in September as well. the generally market sentiment has hence seen positive momentum since.
Market talk
Stock markets remain strong and continue to push for higher levels. After the slight correction of the S&P 500 index the market might break to higher levels. Worth noting that also oil prices have found a strong support off the current USD 75.00 zone. With the Dollar remaining weak this positive trend might continue. Also rising tensions in the Middle East continue to cause positive momentum. The attacks on Lebanon from Israel will likely cause the region being further on alert. Crypto markets on the other hand might find some resistance for now. Bitcoin looks set to correct at the current resistance area.
Tendencies in the markets
- Equities positive, USD weak, cryptos sideways, oil positive, 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.