Biden speech, Dollar weakness, Silver rising

Frank Walbaum FX Strategies.Asia

Important News for the day.

Thu, 16th, 14:30 CET US core retail sales.

US warning

During his last speech for the nation President Biden warned that he sees headwinds for the Democracy, which would come from super rich people as well as the oligarchy. As a conglomerate of people takes over the center- seat further power might be accumulated, which forms the world. Personal rights, freedom and the fair chance for everyone to move forward might hence be threatened, he stated.

Market talk

After the recent strength of the Greenback we can observe fresh selling pressure. The market sentiment and hence the recent correction in equities seems also to be reversed as the Dollar keeps losing momentum. Positive momentum in the stock markets might hence return for now. Furthermore also precious metals keep moving higher again. The Dollar might play an important role here as geopolitical tension ease further and would cause markets generally to calm. The positive sentiment also returns for crypto markets. Bitcoin among other tokens were able to move to the upside again.

Tendencies in the markets.

Equities positive, USD weak, cryptos positive, oil positive, Silver strong, Gold 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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